ATMs & Kiosks

Companies are beginning to expand their use of ATMs and Kiosks to provide services to their clients.  The increase in popularity for this self-serve medium has advantages for both business and their customers, but also comes with increased risk for companies.  Companies must still conduct adequate due diligence on their customers to know who they are doing business with.  So, collecting personally identifiable information of a customer via an ATM and Kiosks can be challenging and often cost-prohibitive.

Currency Transaction Reports (CTRs) must be filed with FinCen for aggregated cash transactions of over $10,000 conducted by a customer at a Kiosk.  Client’s failing to capture necessary personally identifiable information of a customer as part of the customer due diligence risk regulator fines.