Control Tv

BSA Wire Transfer - ControlTv Episode 13

 

Episode #13 - January 22, 2010

Episode length: 11 minutes, 28 seconds

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Intro:

• Find your hosts on Twitter: @jimkisch , @sonyajmills and @mickgoldwasser

Have Questions?

• www.continuity.net - Join Control and ask your banking peers
• Ask the Expert forums (on Control):
  • Andy Greenawalt [Information security]
  • Jim Kisch [Compliance and Risk Management]
  • Sonya Mills [Social Media Best Practices]
  • Jesse Torres [Social Media Best Practices]
  • Karen Licker [Social Media Best Practices]
• LinkedIn: Compliance Support Group
• Twitter: @CE_Control and/or #ControlTv

Question of the Week:

This question came in from the Compliance Support Group

• What do folks use to assess the compliance cost to your institutions? I was having a discussion with Rob Strand, an economist at the ABA, who'd developed a cool tool for assessing the total cost [of banking compliance] . Has anyone used it, or are there others like it?

Please stop by the Compliance Support group and share your experience calculating the cost of compliance for your financial institution.

Industry News:

• Haiti Red Cross texting donations soar past 20 million. Cell phone service providers waive texting fees & send funds ahead of receipt.
• Obama's announcement : lend rather than paying bonuses
• New CC & Overdraft fees see FIs searching for ways to make-up lost income. Operational efficiency comes into focus. Of interest: CU ChatUp radio show discussed new Overdraft protection regulations

Compliance Challenge:

• Bank Secrecy Act Wire Transfer
• what types of suspicious activity need to be identified when doing wire transfers

FreePolicyTuesday:

Completely free on www.continuity.net for 1 week, after which, it's available only to registered users of Continuity Control.

• Bank Secrecy Act Wire Transfer policy
• Please send your requests and/or your policies to share to policies@continuity.net. If we select your policy to share on Control's Free Policy Tuesday, we'll send you a Continuity Engine mug as a token of gratitude.

Closing Comments:

• Look for more announcements of ActionPack Alliance partners coming in the near future!
• Please ask questions and/or let us know if there are any policies or compliance challenges you'd like to see us tackle. Many ways to contact us are found in the Have Questions? section above. -  If we feature your question or comment, we'll send you a Control mug.
  
• That's a wrap folks. Remember, we're Continuity Engine and we're here to help!