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Remote Deposit Capture (RDC)

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Questions and Answers

Which of the following is a potential legal risk associated with Remote Deposit Capture (RDC) at a customer location?

Inadequate record retention programs
Exposure to money laundering and fraud (correct)
Ineffective controls over physical deposit handling
Unauthorized access to technology systems

What is a potential operational risk at a customer location when using Remote Deposit Capture (RDC)?

Ineffective controls over physical deposit handling
Exposure to money laundering and fraud
Unauthorized access to technology systems (correct)
Inadequate record retention programs

What are the potential risks associated with Remote Deposit Capture (RDC) activities deployed at wholly owned or controlled locations?

Legal risks
Operational risks
Compliance risks
All of the above (correct)

What is the potential impact of using Remote Deposit Capture (RDC) by international correspondents' customers?

Increased volumes (A) Signup and view all the answers

What should BSA/AML controls over Remote Deposit Capture (RDC) pouch activity cover?

RDC and physical deposit handling (C) Signup and view all the answers

Which of the following best describes Remote Deposit Capture (RDC)?

The digital processing of paper checks at remote locations (C) Signup and view all the answers

What should senior management do before implementing RDC?

Identify and assess risks associated with the new system (A) Signup and view all the answers

What are the two options for depositary and collecting financial institutions when using RDC?

Send a substitute check or engage in electronic check presentment (A) Signup and view all the answers

Where can RDC be used for deposit capture?

At the financial institution's teller line, ATMs, and customer locations (D) Signup and view all the answers

What can customers do with RDC at their own premises?

Scan items and send the deposit data for processing (C) Signup and view all the answers