Bankowość · 7.12.1998

Minimum Security Devices and Procedures and Bank Secrecy Act Compliance

The FDIC is proposing to issue a regulation requiring insured nonmember banks to develop and maintain ``Know Your Customer'' programs. As proposed, the regulation would require each nonmember bank to develop a program designed to determine the identity of its customers; determine its customers' sources of funds; determine the normal and expected transactions of its customers; monitor account activity for transactions that are inconsistent with those normal and expected transactions; and report any transactions of its customers that are determined to be suspicious, in accordance with the FDIC's existing suspicious activity reporting regulation. By requiring insured nonmember banks to determine the identity of their customers, as well as to obtain knowledge regarding the legitimate activities of their customers, the proposed regulation will reduce the likelihood that insured nonmember banks will become unwitting participants in illicit activities conducted or attempted by their customers. It also will level the playing field between institutions that already have adopted formal Know Your Customer programs and those that have not.