CAMS · Question #85
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…
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Question
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?
Options
- AThey remit funds to the same person
- BThey have been coming in three times a week
- CIt is unusual for customers to remit to Country B
- DEach of their transactions is just below the cash reporting threshold
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