Make third party payments freely and proportionate to the furnished services., CC ID: 08906
Establish a trust to pay for supply chain security forces., CC ID: 08907
Notify third parties of revenue collection weaknesses., CC ID: 08909
Avoid cash purchases of supplies from third parties., CC ID: 08910
Pay third parties through official banking channels., CC ID: 08911
Disclose payments made to supply chain security forces., CC ID: 10031
SELECTED AUTHORITY DOCUMENTS COMPLIED WITH
Assess the effectiveness of the reconcilement with third-party service providers preparing ACH transaction files and ensure daily reconciliation. (App A Tier 2 Objectives and Procedures I.8, FFIEC IT Examination Handbook - Retail Payment Systems, April 2016)
For non prefunded arrangements determine whether the institution places blocks on outgoing payments to deposit accounts, applies them as reductions to credit lines, or includes them in the overall funds transfer monitoring process. (App A Tier 2 Objectives and Procedures J.4, FFIEC IT Examination Handbook - Retail Payment Systems, April 2016)
Determine whether management approves payments resulting in extensions of credit lines or drawings against uncollected funds and retains documentation to support the approvals. Determine whether the institution performs credit assessments of customers originating large dollar volumes of ACH credit t… (App A Tier 2 Objectives and Procedures J.5, FFIEC IT Examination Handbook - Retail Payment Systems, April 2016)
Determine whether management approves draws against uncollected ACH deposits and maintains documentation to support approvals for debits originated by high-risk customers. (App A Tier 2 Objectives and Procedures J.7, FFIEC IT Examination Handbook - Retail Payment Systems, April 2016)
