ABA Banking Journal - December 2008 - (Page 17)

briefing ABA Resources Fast response with ABA’s fingerprint service ABA’s popular fingerprint service now offers financial institutions the results of their employee criminal background checks within 24 hours of being processed, which saves organizations valuable time and money. The improved service significantly reduces the turnaround time for FBI criminal history record checks. Before, fingerprints were electronically transmitted to the FBI by the ABA. However, the FBI returned the criminal history records through the mail. This process took up to a week, or longer. In the meantime, some financial institutions had wasted valuable training dollars. On average, 10% of fingerprints submitted reveal a criminal record. Now ABA users have the ability to receive Criminal History Record Information reports in an electronic format in less than a day. Through ABA’s web-based Secure Internet Results Service (SIRS), which was developed by Fingerprint Solutions Inc., ABA members are notified and able to retrieve criminal history reports immediately after the FBI processes the fingerprints. “We are thrilled to offer our users the ability to get a response in less than 24 hours,” said Tom Judd, ABA Manager of Technical Services. “ABA users now have the comfort of knowing they can obtain a nationwide check, not just a state check from their local police, almost immediately.” Since 1982, ABA has been the FBI’s “channeling agent” through which financial institutions submit their employee fingerprints. ABA is one of the oldest and largest contributors, receiving and sending more than 200,000 sets of fingerprints a year to the FBI to be screened through its national database. More than 60,000 law enforcement agencies submit information to this database. Criminal history checks help uncover employees who have committed criminal acts and can help reduce internal fraud. Financial institutions have a special obligation to check the backgrounds of their employees. Federal regulation mandates that financial institutions take steps to avoid hiring or permitting participation in its affairs anyone who has been convicted of “breaches of trust or dishonest acts.” Failure to do a background check can result in fines of up to $1 million per day. ABA recommends that all financial institution employees be fingerprinted, and personnel in high-risk areas such as those with access to cash, wire transfer, and sensitive information should be fingerprinted every three to five years. For more information or to receive ABA’s specifications for electronic submission, call 1-800-BANKERS or visit www.aba.com/Products/fingerprinting.htm. Stroll through the Grand Plaza in front of San Francisco’s City Hall while on break from the ABA Wealth Management and Trust Conference. The dome of this Beaux Arts building, which opened in 1915, was inspired by that of Les Invalides in Paris. National Conference for Community Bankers Phoenix, AZ Feb 15-18 Seminar for Presidents Bonita Springs, FL Feb 28-Mar 4 ABA Wealth Management and Trust Conference San Francisco, CA Mar 11-13 ABA Intermediate Compliance School; ABA National Compliance School San Jose, CA Mar 27-Apr 2 ABA Mutual Community Bank Conference; ABA Government Relations Summit Washington, DC Mar 30-Apr 1 ABA Real Estate Lending Conference Tampa, FL April 4-8 ABA Financial Statement Analysis for Lenders; ABA National Commercial Lending Schools; ABA Graduate Commercial Lending School Dallas, TX April 17-24 ABA endorses Trustwave’s information security and compliance solutions ABA has endorsed the managed security services, compliance validation solutions, and data security technologies of Trustwave, the leading provider of on-demand data security and payment card industry compliance management solutions to businesses and organizations throughout the world. ABA’s endorsement is awarded by its Corporation for American Banking subsidiary for products and services that help banks improve profitability, operate more efficiently, and compete more effectively. Endorsed services are only selected by CAB following a rigorous product evaluation and vendor due-diligence process. “Trustwave has the comprehensive security and compliance solutions necessary to ensure that financial institutions both large and small are protected,” said CAB President John Wolff. “This alliance will provide our members with access to premier security and compliance solutions that are essential to comply with the latest standards for safeguarding information.” Continued on p.18 Subscribe at www.ababj.com ABA BANKING JOURNAL/DECEMBER 2008 17 http://www.aba.com/Conferences and Education/CMS_sched2.htm http://www.aba.com/Products/fingerprinting.htm http://www.ababj.com

Table of Contents for the Digital Edition of ABA Banking Journal - December 2008

ABA Banking Journal - December 2008
Contents
Editor’s Column
Cover Story
ABA Resources
ABA Chairman’s Position
Community Banking
Pass the Aspirin
The Bank that Hates "Customers"
"Ivan the Terrible"Wreaks Havoc, but Adds New Business Line
New Twist on Philanthropy:the "Second-Chance" Account
Risk Management
Tech Topics
Webnotes
Compliance Clinic
MailBox
Banker’s Mart
To Advertise/Index of Advertisers
The Economy

ABA Banking Journal - December 2008

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