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| Watch the following examples of suspicious activity: | |
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| The following are examples of how to detect and respond to suspicious activity: | |
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Aqua World, Inc., a local boat dealer,
applies for a corporate account at your institution. You review
the application, applying your institution's due diligence procedures
for new accounts. You find that Aqua World's projected transactions
and amounts match those of account holders that conduct similar business
and you approve the account. Should you recommend that Aqua World's
banking activity be subjected to any special monitoring for suspicious
and potentially criminal activity? -Find out what MLA recommends. |
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Your bank maintains several accounts
for a local businessman who owns a finance company and a real estate
company. During a routine audit of this customer’s accounts,
you notice that 25 money orders totaling $11,200 were deposited
to the account over a two-day period. -Do you report the activity as suspicious? |
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During a
routine audit of your bank’s currency transaction reporting,
you notice that it filed nine Currency Transaction Reports in the
past month on transactions conducted by account holder Mickey’s
Bar and Grill. That is more than twice the number of CTRs normally
filed in a month by your bank on transactions conducted by Mickey’s.
In addition, you notice that the transactions were conducted at
three different branches and on five occasions involved the use
of a night deposit box. In the past, all Mickey’s transactions
have been conducted at one branch through a teller. -Should this activity be considered suspicious?- |
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Mr.
Hamilton submits a new customer account application to your bank
via an e-mail message that appears to have originated in South Africa.
However, the application identifies Mr. Hamilton’s address as a
P.O. box in the U.S. city where your bank is located. You attempt
to call him, but find that the number provided in the application,
which is a local number, has been disconnected. You then request
a working phone number via e-mail. He does not respond. -What should you do?- |
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