Thursday, June 6, 2013


The disclosure today, that the National Security Agency (NSA) has been using a broad order from the Foreign Intelligence Surveillance (FISA) Court to receive 100% of the international AND domestic telephone call records of subscribers to Verizon*, means that your margin for error, when it comes to accepting terrorists, or terrorist financiers, as bank client, has just gotten much smaller. Assume that other telecoms are also submitting their call records to the NSA for review.

If you accept a terrorist, or one who provides financial support to terrorists, as a client, know that if the client is later identified, or targeted, by the American intelligence community, rest assured that the NSA telephone information, which shows him or her calling your bank, will show up. Will your bank be later charged, or merely sustain reputation damage when the fact that the terrorist banked with you appears in the media ? Ensure that this does not happen by being as thorough as you can when it comes to vetting new clients with possible CFT issues.

Remember, you are not required to accept every new client who comes through your doors, irrespective of how much money they plan to bring to the bank. high-risk individuals should not be brought onboard as clients.
* Reportedly, the order specified the business telephone numbers only.


No comments:

Post a Comment

Note: Only a member of this blog may post a comment.