Durable Medical Equipment (DME) is defined as any medical equipment used in the home to aid in a better quality of living. The term includes wheelchairs, knee braces, hospital beds, nebulizers, walkers, etc. DME is a benefit included in most insurances including...
Better Monitoring Per federal and state guidelines, MSBs are required to monitor their customers’ transactions for suspicious and illegal activity. Over the past year and a half, the Federal and State governments have issued a huge amount of money to...
In this article we want to answer the major questions surrounding proper employee training so you can use this as a tool to improve the performance of your business. Why you should train your employees Most mistakes that MSBs make in their businesses are...
Suspicious Activity Reporting Suspicious activity reporting (SAR) enables law enforcement to initiate or supplement money laundering or terrorist financing investigations as well as other criminal cases. SARs also provide FinCEN and other federal agencies in...
Top Two Reasons for MSBs to Improve Their CTR Filing Process As a partner to many MSBs throughout the country, Surety Bank has a lot of practical knowledge to share that can help you grow a better business. We take our role seriously and want to provide you with all...
Suspicious Activity Report Best Practices for MSBs As an MSB, you are probably aware that you have to file a suspicious activity report (SAR) if you detect any kind of facts that point to suspicious financial activity. This is a necessary requirement that can either...