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Build Partnerships Through Compliance
Educate your clients about terrorism and earn trust with solid information
by Trey Sullivan, CEO, Attus Technologies
Every sappy relationship
self-help book tells you that “trust” is the basis of every relationship. Never
mind the irritating habits, the rude manners and the horrific in-laws. Once you
have a foundation of trust, your relationship will blossom like the first tulip
of spring.
[ Read More ... ]
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Build partnerships with compliance
For most of our readers, compliance is a big part of their job. While you may have solid processes for handling compliance inside your bank, how well are you educating your customers about the risks they face? Increasingly, terrorists are using non-profit organizations and small business loans for money laundering and other fraud schemes. They are also targeting community banks and credit unions. Our feature article explains the importance of educating your customers about these risks and how it will contribute to building strong partnerships in your community.
Trey Sullivan |
Last month, we asked how you encourage your tellers to follow compliance processes on a daily basis. Our readers responded with some very practical and creative methods to get their buy-in. This month, we ask how you stay compliant with federal regulations when you allow customers to open new accounts online. We need your best ideas for protecting your bank from fraud while giving your customers more online options.
To keep this material relevant to you, I invite you to become actively involved with this newsletter. Please send ideas for articles you’d like to see. Let me know how successful we are at topics that are relevant to you—and your career. Take our 1-minute reader survey, and you could win a PAIR of Garmin Rino 110 GPS. Real experience
"from-the-field" helps everyone succeed.
If you would like to unsubscribe, please click on the link at bottom of newsletter.
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Complete our 1-minute reader survey and you could win a PAIR of Garmin Rino 110 GPS. |
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A Guide to OFAC
Regulations:
For
Industries That Didn’t Know They Needed a Guide
by Susan Paul, Compliance Attorney
After
September 11, 2001, the OFAC and AML regulations were broadened to include many
different types of businesses outside the traditional financial services
industry. This white paper is a
resource that banks can share with small business customers to ensure they
understand the compliance requirements they now face. And, if you are in a non-banking industry, this paper seeks to
help you understand your obligations under the law.
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to
download the complimentary white paper. |
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Last Issue's Dilemma:
Compliance Trickles Down
As the compliance officer for our bank,
I’m also in charge of training tellers and admin staff on compliance
procedures. I’m good at teaching them
the laws and regulations, but I don’t think I’m imparting how important
compliance is to our bank—and the government’s anti-terrorism efforts. Because we’re located in a small community
and know most of our customers on a first name basis, I’m having difficulty
getting our tellers and front-line staff to understand the importance of
following all of our compliance processes every single time. What education methods have your readers
found effective for getting their buy-in?
Thanks!
—Gordon S.
Read the best advice from readers
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This Issue's Dilemma:
To Open or Not to Open
We want new customers to be able to open accounts through
our website. The convenience would be great for our customers, but we are
wondering how we can stay compliant with federal regulations if we offer this
service.
Should we focus on customer convenience or
compliance with regulations?
— Brian
M., Credit Union VP
Can You Help?
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Fraud and AML
Monitoring: Stay ahead of the bad guys |
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Change Management:
Survive and thrive |
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Government
Regulations: Keep up with your changing environment |
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"The helpful staff at InternetVIZ keeps our newsletter on track, and enables us to bring valuable information
to our most important constituents—our customers."
- Trey Sullivan, CEO, ATTUS Technologies
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