TOPIC: ATM

Outsourcing Mobile ATMs

Employee at a bank ($3.7BUSA)
We currently have a few mobile ATMs that will go to festivals or events in the area.  We are now considering outsourcing our mobile ATMs and using a 3rd party.  Beyond vendor management and other factors, would there potentially be any BSA ramifications to consider? Do any other banks out there outsource their mobile ATMs?

    Demonstration | End-to-End High-Risk Customer Management & CDD/EDD - Join us Dec 12

    December 12 at 12:30 PM - 01:30 PM EST
    End-to-End High-Risk Customer Management & CDD/EDD
    Segmentation, Stratification, Surveillance & EDD Workflows for High-Risk Customers

    Register Now


    How accurate is your institution’s customer risk profile? A one-size-fits-all approach to customer risk can lead to thousands of high-risk customers being flagged for continuous review, increasing your workload.
     
    Verafin’s end-to-end solution for High-Risk Customer Management and CDD/EDD helps you effectively manage higher-risk categories of customers, including ATM Owners, MRBs, MSBs, NGOs, and more.

    Join us as we demonstrate how Verafin identifies and categorizes high-risk customers, and stratifies the risk within each category. Through ongoing surveillance, Verafin provides a more accurate picture of your institution’s risk profile to strengthen your end-to-end CDD/EDD program.

    Register Now

      Funds Availability for On-Us Checks deposited at an on-site ATM

      SVP at a bank ($13.6BUSA)
      Soon we will no longer be using ATM envelops but rather deposit automation for cash or check deposits. With the ATM envelops we were treating On-Us checks as next day availability items. This was easy as the deposits were simply process at a teller window. Under deposit automation it would be better for us to treat such deposits as second day availability, but not sure we are permitted to under Reg CC.

      How are you treating such On-Us check deposits at on-premise ATMs?

        Demonstration | End-to-End High-Risk Customer Management & CDD/EDD - Join us Dec 12

        December 12 at 12:30 PM - 01:30 PM EST
        End-to-End High-Risk Customer Management & CDD/EDD
        Segmentation, Stratification, Surveillance & EDD Workflows for High-Risk Customers

        Register Now


        How accurate is your institution’s customer risk profile? A one-size-fits-all approach to customer risk can lead to thousands of high-risk customers being flagged for continuous review, increasing your workload.
         
        Verafin’s end-to-end solution for High-Risk Customer Management and CDD/EDD helps you effectively manage higher-risk categories of customers, including ATM Owners, MRBs, MSBs, NGOs, and more.

        Join us as we demonstrate how Verafin identifies and categorizes high-risk customers, and stratifies the risk within each category. Through ongoing surveillance, Verafin provides a more accurate picture of your institution’s risk profile to strengthen your end-to-end CDD/EDD program.

        Register Now

          Demonstration | Mitigating and Managing Deposit Fraud Losses - Join us Nov 27

          November 27 at 12:30 PM - 01:30 PM EST
          Mitigating and Managing Deposit Fraud Losses
          Cross-Channel Analysis & Machine Learning for Improved Fraud Detection

          Register Now


          Financial institutions across the country are facing an increasing number of deposit fraud attacks as criminals take advantage of the anonymity and convenience of ATM and mobile channels. Meanwhile, consumers are increasingly falling victim to fraud scams, which can have significant emotional and financial effects.

          Join us for an overview of Verafin's Fraud Detection and Management solution which includes powerful detection capabilities to mitigate losses from first-party ATM, In-Branch and Mobile deposit schemes, and protects your customers from third-party fraud scams. 
           
          Highlights of this software demonstration include:
          • Targeted alerts for first-party deposit fraud
          • Targeted alerts for deposit fraud scams
          • Machine Learning deposit fraud models
          • Risky Check Analysis
          • Fraud Management solutions
          Register Now

            Infographic | Managing & Mitigating Risk - Challenges of CDD/EDD for Higher-Risk Customers

            Infographic
            Managing & Mitigating Risk
            Challenges of CDD/EDD for Higher-Risk Customers

            Download Now


            “Although any type of customer account is potentially vulnerable to money laundering or terrorist financing, by the nature of their business, occupation, or anticipated transaction activity, certain customers and entities may pose specific risks.”
            FFIEC BSA/AML Examination Manual

            This infographic provides an easy-to-understand overview of high-risk customers, including expectations from examiners for risk-based procedures, a visualization of progressive methods of due diligence and suspicious activity reporting, current challenges of conventional CDD/EDD approaches, and how to strengthen compliance with an end-to-end approach to high-risk customer management.

            Download Now

              eBook | How to Effectively Manage High-Risk Customers - Four Key Areas of Focus for your End-to-End CDD/EDD Process

              eBook
              How to Effectively Manage High-Risk Customers
              Four Key Areas of Focus for your End-to-End CDD/EDD Process

              Download Now


              The sheer number of high-risk customers that can be present at a financial institution makes ongoing assessment extremely challenging. Conventional approaches to high-risk customer management are largely manual, resulting in inefficient and ineffective processes.

              This eBook offers valuable insights and best practices to better manage and mitigate risks associated with high-risk customers, and strengthen your overall BSA/AML program.

              Download Now

                Demonstration | End-to-End High-Risk Customer Management & CDD/EDD - Join us Oct. 30

                October 30 at 12:30 PM - 01:30 PM EST
                End-to-End High-Risk Customer Management & CDD/EDD
                Segmentation, Stratification, Surveillance & EDD Workflows for High-Risk Customers


                Register Now

                How accurate is your institution’s customer risk profile? A one-size-fits-all approach to customer risk can lead to thousands of high-risk customers being flagged for continuous review, increasing your workload.
                 
                Verafin’s end-to-end solution for High-Risk Customer Management and CDD/EDD helps you effectively manage higher-risk categories of customers, including ATM Owners, MRBs, MSBs, NGOs, and more.

                Join us as we demonstrate how Verafin identifies and categorizes high-risk customers, and stratifies the risk within each category. Through ongoing surveillance, Verafin provides a more accurate picture of your institution’s risk profile to strengthen your end-to-end CDD/EDD program.

                Register Now

                  Reg CC - Disclosure for ATM Deposits

                  VP at a bank ($217MUSA)
                  Can anyone share their Reg CC disclosure language as it relates to Non-Proprietary ATM deposits?  Is it as simple as using the model language from the Reg? Funds from any deposits (cash or checks) made at automated teller machines (ATMs) we do not own or operate will not be available until the fifth business day after the day of your deposit. 

                  In addition, can we have a banking day cut-off before 12:00PM for these non-proprietary ATM deposits? Struggling with determining the banking day of deposit. Thanks in advance!

                    Demonstration | End-to-End High-Risk Customer Management & CDD/EDD - Join us September 11

                    September 11 at 12:30 PM - 01:30 PM EST
                    End-to-End High-Risk Customer Management & CDD/EDD
                    Segmentation, Stratification, Surveillance & EDD Workflows for High-Risk Customers


                    Register Now

                    How accurate is your institution’s customer risk profile? A one-size-fits-all approach to customer risk can lead to thousands of high-risk customers being flagged for continuous review, increasing your workload.
                     
                    Verafin’s end-to-end solution for High-Risk Customer Management and CDD/EDD helps you effectively manage higher-risk categories of customers, including ATM Owners, MRBs, MSBs, NGOs, and more.

                    Join us as we demonstrate how Verafin identifies and categorizes high-risk customers, and stratifies the risk within each category. Through ongoing surveillance, Verafin provides a more accurate picture of your institution’s risk profile to strengthen your end-to-end CDD/EDD program.

                    Register Now

                      Archived Webinar | How do you find your high-risk customers? - Watch Now

                      Archived Webinar
                      How do you find your high-risk customers?
                      Eliminate Manual Processes for Identifying Private ATM Owners, MSBs, NGOs, MRBs, CIBs, and more

                      Originally Presented: July 31, 2019

                      Watch Now

                      Financial institutions invest significant time and resources into identifying customers in high-risk categories, such as Private ATM Owners, Money Service Businesses (MSBs), Marijuana-Related Businesses (MRBs), Non-Governmental Organizations or Charities (NGOs), Cash Intensive Businesses (CIBs), and more.

                      Unfortunately, for most compliance professionals these processes are primarily manual today. Continuously updating and reviewing reports and spreadsheets can hinder your ability to meet examiners expectations, fulfill compliance requirements, and follow your institution’s policies for uncovering high-risk customers.

                      Join us to learn how to alleviate manual processes for identifying higher-risk customers, automate due diligence processes, and strengthen your overall compliance program.

                      Highlights of this webinar:
                      • Review of CDD/EDD requirements and expectations for higher-risk categories of customers as outlined in the FFIEC BSA/AML Examination Manual.
                      • Discussion on the challenges and potential risks of conventional processes for manually identifying and managing high-risk customers.
                      • Overview of new technology approaches with targeted monitoring for risk factors, alerting you to unidentified higher-risk categories.
                      Watch Now

                        ATM Settlement - Vista 5.2.3

                        Manager at a credit_union ($407MUSA)
                        Hello, 

                        I am looking for an institution that has Diebold 7700 series ATMs that are on Vista software and using Co-Op as the processor.  We will be upgrading to Vista later this year and I am looking for sample ATM settlement worksheets. 

                          Educational Webinar | How do you find your high-risk customers? - Join us July 31

                          July 31 at 12:30 PM - 01:30 PM EST
                          How do you find your high-risk customers?
                          Eliminate Manual Processes for Identifying Private ATM Owners, MSBs, NGOs, MRBs, CIBs, and more


                          Register Now

                          To identify customers in higher risk categories such as Private ATM Owners, Money Service Businesses (MSBs), Marijuana-Related Businesses (MRBs), Non-Governmental Organizations or Charities (NGOs), and Cash Intensive Businesses (CIBs), most compliance programs rely on manual processes that can cost time and strain resources.

                          Join us for this presentation as we discuss how to alleviate manual processes for identifying higher-risk customers, automate due diligence processes, and strengthen your overall compliance program.

                          Highlights:
                          • Review of CDD/EDD requirements and expectations as outlined in the FFIEC BSA/AML Exam Manual.
                          • Discussion on the challenges and of conventional processes to identify high-risk customers.
                          • Overview of targeted monitoring to uncover unidentified higher-risk customers.
                          Register Now

                            Hyosung ATMs- Event Data on Verint DVRs

                            Manager at a credit_union ($1.9BUSA)
                            Our credit union has purchased 2 Hyosung ATMs recently. We were told by the local vendor, Wittenbach, that event data could be sniffed using an SR8 device on a spanned port. Our security contractor hooked up the SR device when the machine was delivered and event data was being captured. When we tested it, not all the encryption had been turned on, when it was enabled the SR8 device couldn't interpret the data. Just wondering if anyone else is using a Hyosung ATM and recording video with event data on a Verint DVR. 

                            We also have Diebold and NCR ATMs and are getting the data off those machines through the VSS settings and WebATM settings directly on the machines. The Wittenbach techs that we had out the other day said that there wasn't a similar setting on the Hyosung. 

                              Demonstration | End-to-End High-Risk Customer Management & CDD/EDD - Join us July 10

                              July 10 at 12:30 PM - 01:30 PM EST
                              End-to-End High-Risk Customer Management & CDD/EDD
                              Identification, Stratification, Surveillance & EDD Workflows for High-Risk Customers


                              Register Now

                              How accurate is your institution’s customer risk profile? A one-size-fits-all approach to customer risk can lead to thousands of high-risk customers being flagged for continuous review, increasing your workload.
                               
                              Verafin’s end-to-end solution for High-Risk Customer Management and CDD/EDD helps you effectively manage higher-risk categories of customers, including ATM Owners, MRBs, MSBs, NGOs, and more.

                              Join us as we demonstrate how Verafin identifies customers in high-risk categories to intelligently categorize them, and then stratifies the risk within those groups. Through ongoing surveillance, Verafin provides a more accurate picture of your institution’s risk profile to strengthen your end-to-end CDD/EDD program.

                              Register Now

                                Blog | Improving your risk-based CDD with intelligent categorization - Read the full blog now

                                Blog
                                Improving your risk-based CDD with intelligent categorization
                                How segmentation improves both the effectiveness and efficiency of your customer due diligence procedures for higher-risk categories


                                Read the full blog now

                                With expanding regulatory expectations toward CDD/EDD risk management and shrinking compliance resources, the question on the minds of many BSA/AML compliance professionals is, “How can we manage this?” 
                                 
                                The answer is by applying intelligent categorization — but what does that mean?

                                Not all high-risk customers pose the same level of risk to an institution. Therefore, applying the same level of ongoing due diligence to all high-risk customers is incredibly inefficient. In this blog, you will learn how intelligent categorization allows for more tailored and effective management throughout the customer relationship, including:
                                • Identification of high-risk customers and categorizing them into high-risk groups.
                                • Risk Stratification to address how risk differs within each high-risk category.
                                • EDD Review Workflows that centralize processes, automate tasks, and integrate with ongoing monitoring and risk assessment.
                                • Surveillance that applies targeted analytics to specific groups, monitoring them for unusual activity and risk factors.
                                Read the full blog now

                                  Demonstration | Mitigating and Managing Deposit Fraud Losses - Join us today, June 5

                                  Today, June 05 at 12:30 PM - 01:30 PM EST
                                  Mitigating and Managing Deposit Fraud Losses
                                  Cross-Channel Analysis & Machine Learning for Improved Fraud Detection


                                  Register Now

                                  Join us today, June 05, for an overview of Verafin's Fraud Detection and Management which includes powerful detection capabilities to mitigate losses from first-party ATM, In-Branch and Mobile deposit schemes, and protects your customers from third-party fraud scams.

                                  Highlights of this software demonstration include:
                                  • Targeted alerts for first-party deposit fraud
                                  • Targeted alerts for deposit fraud scams
                                  • Machine Learning deposit fraud models
                                  • Risky Check Analysis
                                  • Fraud Management solutions
                                  Register Now

                                    Demonstration | Mitigating and Managing Deposit Fraud Losses - Join us June 5

                                    June 05 at 12:30 PM - 01:30 PM EST
                                    Mitigating and Managing Deposit Fraud Losses
                                    Cross-Channel Analysis & Machine Learning for Improved Fraud Detection


                                    Register Now

                                    Financial institutions across the country are facing an increasing number of deposit fraud attacks as criminals take advantage of the anonymity and convenience of ATM and mobile channels. Meanwhile, consumers are increasingly falling victim to fraud scams, which can have significant emotional and financial effects.

                                    Join us for an overview of Verafin's Fraud Detection and Management which includes powerful detection capabilities to mitigate losses from first-party ATM, In-Branch and Mobile deposit schemes, and protects your customers from third-party fraud scams. 

                                    Highlights of this software demonstration include:
                                    • Targeted alerts for first-party deposit fraud
                                    • Targeted alerts for deposit fraud scams
                                    • Machine Learning deposit fraud models
                                    • Risky Check Analysis
                                    • Fraud Management solutions
                                    Register Now