In response to a concern about check fraud raised at the last meeting, Mr. Clarke contacted the U.S. Secret Service. They have a video available to banks and also come directly to the bank and provide check fraud training to bank personnel at no charge. Anyone interested in receiving more information should contact the nearest district office of the U.S. Secret Service. Ms. Dubs asked if any research had been conducted on the proposed Section 16.5 of the Illinois Banking Act since the last meeting. Mr. Clarke indicated that federal law requires that banks perform criminal history inquiries on their potential employees.
All checks require a signed release from the individual.
The Bureau subscribes to an on-line system which ties directly into the Illinois State Police network. We have also engaged an outside firm to conduct livescan fingerprinting. The information is submitted to the FBI and takes approximately 6-8 weeks to receive the results. A Section 51 Notice was issued to a southern Illinois institution last week, by the Commissioner. The bank was engaged in unsafe and unsound activities and were given a time frame specified by the Commissioner for which the problems must be corrected.