Business Self-Risk Assessment


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Round Top State Bank

 

  Federal Financial Institutions Examination Council

 

The Federal Financial Institutions Examination Council (FFIEC)  issued guidelines that require all U.S. financial institutions to determine the risk level of Commercial Customers that use certain Products, such as Remote Deposit Capture, Wire Transfer and Automated Clearing House (“ACH”).

The FFIEC explained the need for the Guidelines, “Compliance of all institutions is important because of the nature of Remote Deposit Capture technology and its adaptability for illegal activities.” In the same Guideline, the FFIEC said the Customer Risk Analysis also applied to ACH and Mobile Banking.

For years, U.S. financial institutions have been required to qualify Customers and Customers, in accordance with the Bank Secrecy Act, Patriot Act and Gramm, Leach, Bliley Act, collectively (“The Rules”) to preserve the stability of the financial industry.

The attached form can be used to comply with the FFIEC requirements. If you have any questions while completing this form, please do not hesitate to call your Account Officer.

Business Risk Self-Assessment

 

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