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?

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

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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.

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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?

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

We recently discontinued offering ATM cards.  does anyone have a letter that would support moving ATM card holders to debit cards?

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

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

What are you requiring for vendor management from your ATM servicer? Loomis, Brinks, etc.

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

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

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!

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?
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

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. 

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

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. 

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
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

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

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