828-252-4036 info@bankexam.com

Chalk one up for the good guys.

This is one of my favorite BSA anecdotes.

In the May 2009 issue of the FINCEN “SAR ACTIVITY REVIEW” (see link for entire story below), it appears that a bank’s BSA/AML geeks tripped up the bad guys and helped send them to jail.

The geeks dutifully noticed a business checking customer who appeared to be engaging in activity inconsistent with the customer’s business profile. As a result of the subsequent SAR filing, the bad guys went to jail and at least some of the defrauded consumers got some restitution.

Hooray for the Compliance Geeks!

I live in the compliance world. I well understand that compliance people don’t jump to mind when the word “hero” comes up. And, I have read enough stories about selfish, greedy banks to last a lifetime.

So, it’s nice to read about a bank (and its compliance geeks) who rescued who-knows-how-many customers from a serious, potentially heart-wrenching, life-arresting loss. My hat’s off to the these guys. Kudos! Bravo! Keep up the good work.


Click the link below for the full story.


(Published in The SAR Activity Review – Trends, Tips & Issues, Issue 15, May 2009)