Final Answer:
A lead team member will be required to review a check if the entire deposit total is greater than $10,000.
Step-by-step explanation:
A lead team member will be required to review a check if the entire deposit total is greater than $10,000. This threshold is often set in financial institutions to identify potentially large transactions that may require additional scrutiny to ensure compliance with regulations and to detect any unusual or suspicious activity.
Establishing a specific threshold for check review helps streamline the monitoring process and allows financial institutions to focus their attention on higher-risk transactions. Checks with deposit totals exceeding $10,000 may trigger review procedures, including verification of the source of funds, compliance with anti-money laundering (AML) regulations, and adherence to internal policies.
By implementing such review thresholds, organizations can strike a balance between efficient processing of routine transactions and the need for diligent oversight to detect and prevent financial irregularities or illicit activities. The $10,000 threshold aligns with regulatory guidelines and industry best practices to maintain the integrity and security of financial transactions.