A bank sells reloadable open-loop prepaid cards to both customers and non-customers. What is a red flag associated with
Posted: Thu Jul 21, 2022 9:00 pm
A bank sells reloadable open-loop prepaid cards to both customers and non-customers.
What is a red flag associated with these cards that may indicate money laundering?
A. A bank customer historically purchases several prepaid cards near year-end.
B. A non-bank customer regularly loads large amounts of cash onto several prepaid cards.
C. A non-bank customer consistently uses the bank to obtain cash advances using a prepaid card.
D. A bank customer routinely purchases five prepaid cards in small even-dollar amounts on a monthly basis.
What is a red flag associated with these cards that may indicate money laundering?
A. A bank customer historically purchases several prepaid cards near year-end.
B. A non-bank customer regularly loads large amounts of cash onto several prepaid cards.
C. A non-bank customer consistently uses the bank to obtain cash advances using a prepaid card.
D. A bank customer routinely purchases five prepaid cards in small even-dollar amounts on a monthly basis.