TOPIC: Monitoring

CDD/EDD Import Export Companies

VP at a bank ($1.5BUSA)
I am looking to see what if any CDD/EDD you are doing for import/export companies.  With the Amazon boom and our current influx of businesses stating they are importing and exporting goods we are finding CDD a challenge with our offices.  Several do not have locations as they are operating as brokers.  I am interesting to see if others have had an increase and what, if any, other steps you may have taken to validate that they are importing/exporting items.  
We do site visits and internet searches on addresses, names, vendors and their websites.

    Manual Account Transaction Monitoring

    Manager at a bank ($13MUSA)
    I am looking for an Excel Spreadsheet that will let me input the monthly totals for assumed and actual volume for an MSB customer. Does anyone have a monthly spreadsheet that they use that is set-up to give an analysis of the transactions?


      ***Managing Construction Loan Payments***

      VP at a bank ($241MUSA)
      How do other banks manage customers making principal payments on interest only construction loans?  Do you prepay interest which creates negative interest or do you allow your customers to reduce principal which may impact the permanent loan at conversion?  Do you impose a prepayment penalty?

      Any help is appreciated!

        Blog – Inside Job: The tactics criminal employees can use to defraud your financial institution

        Threat from Within: Employee Fraud
        February 25, 2019

        The Association of Certified Fraud Examiners (ACFE) reports that employee fraud “is likely the largest and most prevalent threat” faced by organizations today. This “fraud committed against the organization by its own officers, directors, or employees—constitutes an attack against the organization from within, by the very people who were entrusted to protect its assets and resources.”
        In this insightful blog post, you will learn five tactics employees may use to commit fraud against their employers, along with an exploration of fraud controls that financial institutions can implement for appropriate monitoring of employees.
        Read the complete blog