Solutions
- Cyber Risk
  Menu_icons
  
  menu description
  We bring the best of our collective experience, energy and creative power to fiercely safeguard our clients and fortify their communities.
  Menu_icons
  
  We bring the best of our collective experience, energy and creative power to fiercely safeguard our clients and fortify their communities.
- Third Party Risk Management
  Menu_icons
  
  menu description
  Automate, accelerate and centralise third party risk management across your critical service providers and other relationships with our market-leading solution.
  Menu_icons
  
  Automate, accelerate and centralise third party risk management across your critical service providers and other relationships with our market-leading solution.
- Bank Network Management
  Menu_icons
  
  menu description
  The only comprehensive solution for Bank Network Management, supporting most of the world’s largest banks manage their complex global networks, local market exposures and compliance requirements.
  Menu_icons
  
  The only comprehensive solution for Bank Network Management, supporting most of the world’s largest banks manage their complex global networks, local market exposures and compliance requirements.
- Capital Markets
  Menu_icons
  
  menu description
  The world’s leading global advisory practice for financial market infrastructures since 1994, supporting FMIs to manage risk, regulation and market transformation.
  Menu_icons
  
  The world’s leading global advisory practice for financial market infrastructures since 1994, supporting FMIs to manage risk, regulation and market transformation.
- Fund Services
  Menu_icons
  
  menu description
  We provide expert advisory services for custody, investment operations and strategy, as well as a powerful solution for Operational Due Diligence (ODD), third party risk and compliance.
  Menu_icons
  
  We provide expert advisory services for custody, investment operations and strategy, as well as a powerful solution for Operational Due Diligence (ODD), third party risk and compliance.
Platform
- Orbit Risk
  - Orbit Intelligence
    Menu_icons
    
    menu description
    Orbit Intelligence captures your risk landscape, pulling together insights from across the platform. It centralises risk analysis, data, and news on your portfolio of monitored organisations.
    Menu_icons
    
    Orbit Intelligence captures your risk landscape, pulling together insights from across the platform. It centralises risk analysis, data, and news on your portfolio of monitored organisations.
  - Orbit Diligence
    Menu_icons
    
    menu description
    Orbit Diligence automates your DDQ and RFI processes for a wide range of use cases, accessing a library of off-the-shelf questionnaires and risk frameworks, freeing up valuable resources.
    Menu_icons
    
    Orbit Diligence automates your DDQ and RFI processes for a wide range of use cases, accessing a library of off-the-shelf questionnaires and risk frameworks, freeing up valuable resources.
  - Orbit Security
    Enterprise Cyber Risk
    Menu_icons
    
    menu description
    Enhance your cyber risk management by gaining complete visibility over your attack surface. Orbit Security monitors for breaches and vulnerabilities that could be exploited by threat actors, so you can prioritise remediation.
    Menu_icons
    
    Enhance your cyber risk management by gaining complete visibility over your attack surface. Orbit Security monitors for breaches and vulnerabilities that could be exploited by threat actors, so you can prioritise remediation.
    Third Party Cyber Risk
    Menu_icons
    
    menu description
    Manage your exposure to critical third parties with continuous, data-driven monitoring. Analyse any entity’s security posture with Orbit Security Ratings and digitised IT Security questionnaires.
    Menu_icons
    
    Manage your exposure to critical third parties with continuous, data-driven monitoring. Analyse any entity’s security posture with Orbit Security Ratings and digitised IT Security questionnaires.
    Menu_icons
    
    menu description
    Orbit Security Ratings are an automated, powerful way to continuously monitor the cyber security posture of your organisation and the third parties it relies on, with data-driven analytics so you can enhance the security of your ecosystem.
    Menu_icons
    
    Orbit Security Ratings are an automated, powerful way to continuously monitor the cyber security posture of your organisation and the third parties it relies on, with data-driven analytics so you can enhance the security of your ecosystem.
  Menu_icons
  
  menu description
  Achieve trust, transparency and security with a single platform. A leading solution for companies looking to digitise and automate their risk management, leveraging Intelligence, Diligence and Security.
  Menu_icons
  
  Achieve trust, transparency and security with a single platform. A leading solution for companies looking to digitise and automate their risk management, leveraging Intelligence, Diligence and Security.
Insights
Customers
About Us

Under cyber attack?

Call our incident response team 24/7 on +44 (0) 207 459 4888 for immediate help from our friendly experts

Non-urgent queries

For all non-urgent enquiries, call +44 (0) 208057 7098

28 October 2022

Are your cash correspondent banks segregating client cash?

Bank Network Management

About the author

Caroline McCreadie

Director | Cash and Network Manager | Global Network Management

Caroline is an experienced Network Manager. She is responsible for the Middle East and African regions, as well as running our Cash Correspondent Monitoring Programme. Before joining Thomas Murray in 2017, Caroline worked as a Network Manager at Standard Chartered Bank in Johannesburg, South Africa and for many years at Morgan Stanley in London, UK in both Treasury and Network Management.

Under the many global banking rules (i.e. UK CASS, SEC Rule 15(c)3-3), on receipt of client funds all regulated firms must promptly place all client money into one or more client bank accounts. The funds must be held separately and be easily distinguishable from the firm’s own proprietary bank accounts, even in instances where the money concerned is held for only a short time before being paid onward.

Based on the 356 Cash Correspondent Monitoring questionnaire submissions for 2021, 71.6% of all cash correspondent banks do keep client cash segregated and identifiable. However, most alarmingly, 7% of respondents stated they did not segregate and identify client cash.

Do you understand what your bank does with client money?

By joining the Cash Correspondent Monitoring programme this information is requested as part of the questionnaire. If you would like further information regarding our product, please contact one of our experts.