The anti-money laundering compliance officer for a small money transmitter has several agent locations in the same geogr
Posted: Thu Jul 21, 2022 8:59 pm
The anti-money laundering compliance officer for a small money transmitter has several agent locations in the same geographic area in the United States. The customers are immigrants from Country A and the majority of the funds are remitted to Country A.
In a meeting with one of the agents, it is recently discovered that two new customers have been coming in three times a week and sending funds to the same recipient in Country B. Each cash transaction always totals exactly $8,000.
What should alert the agent to possible money laundering activity by the two customers?
A. They remit funds to the same person
B. They have been coming in three times a week
C. It is unusual for customers to remit to Country B
D. Each of their transactions is just below the cash reporting threshold
In a meeting with one of the agents, it is recently discovered that two new customers have been coming in three times a week and sending funds to the same recipient in Country B. Each cash transaction always totals exactly $8,000.
What should alert the agent to possible money laundering activity by the two customers?
A. They remit funds to the same person
B. They have been coming in three times a week
C. It is unusual for customers to remit to Country B
D. Each of their transactions is just below the cash reporting threshold