banks and examiners recognize possible money laundering and terrorist financing schemes. FinCEN issues advisories containing examples of “red flags” to inform and assist banks in reporting instances of suspected money laundering, terrorist financing, and fraud. In order to assist law enforcement in its efforts to target these activities, FinCEN requests that banks22/12/2020 · Your bank might be in trouble, because the red flags from FATF have mentioned that any bank account that receives funds from suspicious accounts might be involved in money laundering. For instance, one of your customers has received funds from a sanctioned country or an account that has been blacklisted by another bank?The report identifies 42 'Red Flag Indicators' or warning signs of money laundering and terrorist financing. Red flags It is important to be aware of, and act properly upon, red flag indicators that a transaction may be suspicious. One of the following circumstances may provide a basis for making further enquiries of your client. Several red flag indicators together, without reasonable explanation, are more likely to …Anti-money laundering red flags - - AML/CFT Red Flags | AML-CFTMoney laundering and terrorist financing indicators Anti-money laundering red flags - , early repayment of mortgages/loans • short repayment periods for borrowing • an excessively high value is placed on assets/securities • it is potentially loss making • involving unnecessarily complicated structures or steps in transaction • repetitive instructions involving common features/parties or back to

Tags: