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As forensic accountants, we analyze bank records on a daily basis. It is extremely helpful when we receive thorough bank subpoena responses. We assist clients in requesting the underlying records from banks, such as withdrawal slips (including offsets), deposit slips (including deposited items), and many other types of supporting records to bank statements. This series of articles in our newsletter addresses the many types of records that you can request related to bank statements. When reviewing bank statements, you may see large transactions listed as “withdrawals at branch.” While this might appear to be a cash withdrawal, the funds could have been used to purchase a cashier’s check at the teller window. The issue? Bank statements typically do not distinguish between a cash withdrawal and a cashier’s check purchased in-person. This lack of detail can obscure the actual flow of funds, particularly in cases involving asset tracing, financial disputes, or fraud analysis. In addition to cashier’s checks, withdrawals could be a cash withdrawal. In order to verify this, you can request a cash-out ticket. These tickets don’t show up in standard statement descriptions but can significantly affect the interpretation of a transaction. Our Practice Tip: If we see a large withdrawal from a branch, in most instances we request copies of the corresponding cashier’s checks, cash-out tickets, or other offsets. These supporting documents help reveal the true destination of the funds. Best Practice: When requesting records for a financial investigation, don’t stop at the statements. It is extremely helpful to request all cashier’s checks, cash-out tickets, and offsets. Additionally, many banks have to manually pull each cashier’s check. In order to assist clients, we send detailed document requests for each item that requires further information and follow up with banks regarding their subpoena responses.
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