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The list below features indicators which appear within the case studies of this report, and should be treated as a non-exhaustive guide.• account activity inconsistent with customer profile• account operated by some one other than the owner• betting accounts with large deposits but with minimal betting activity• business activity inconsistent with business profile• cash payments for funds transfers• cash withdrawals from betting accounts in cheques and vouchers• client is a known frequent gambler and/or high roller at a casino• client purchases or sells real estate above or below the market value while apparently unconcerned about the economic disadvantages of the transaction• co-mingling of illicit funds with legitimate sources of income• common bank accounts identify and link superannuants, facilitators and organisers• company account used for personal use• departure from THE COUNTRY shortly after making funds transfers• frequent cash deposits made over a short period of time• frequent cheque deposits• funds transferred to overseas account but then withdrawn locally.• funds transfers involving a tax haven• funds transfers to numerous offshore jurisdictions with no business rationale• funds withdrawn from overseas account through ATM
• income inconsistent with customer profile• large cash deposit• l arge cash transactions conducted over a short period of time• large cash withdrawals with a bank cheque• large funds transfers after gambling activity• large international funds transfers• l arge number of accounts held by customer with the same institution• l ow-value property purchased with improvements paid for in cash before re-selling• multiple deposits made to same overseasaccount by different people• multiple funds transfers FOR FIXED SUMS.
There is a big list of RED FLAGS which may indicate the money laundering risk, some are already highlighted in the answers from Georgei and Venkataraman.
The following are a few more examples of ML trends:
There are numerous indicators which may act as ‘red flags’ for reporting entities to identify potential money laundering or terrorism financing activity.
Although a single indicator does not necessarily indicate illicit activity, the existence of a ‘red flag’ indicator should encourage further monitoring and examination. In most cases it is the existence of multiple indicators that raises a reporting entity’s suspicion of potential criminal activity, and influences their response to the situation.
Anti-money laundering and counter-terrorism financing (AML/CTF) officers should include these money laundering/terrorism financing indicators in staff training, and encourage their staff to use these indicators when describing suspicious behaviours for inclusion in suspect transaction or suspicious matter reports.
Through a number of indicators and signs that the bank have an idea of his client from suspicious transactions through Note the following:
1.nchat heavy on the account and the balance is low.
Multiple2.thoilat to and from the same account.
3.adm customer's account for the sensitivity of the costs of operations.
Sudden4.ngarat account inconsistent with the historical activity for him.
5.aidaat of multiple people in the same account.
6.rvd client to highlight evidence of his identity.
Private account7.rsaúl featured by fax or by hard copy only.
8.osme difficult relationship with sponsors to contact them or identify them.
The following is an unofficial translation. There is no official English version of
Money Laundering indicators on legal texts. The legally binding version of this Ordinance will be available in German, French and Italian.
Sir you invited me and already gives answer.
Some of the most prominent Money Laundering Indicators are:
AGREE WITH YOUR ANSWER MR GEORGI & MR VENKITARAMAN ANSWER
Buying assets (e.g. a house) on a relatively low income
Buying assets (e.g. a house) far below market value
Getting a mortgage on a relatively low income
Party in property flipping transaction with no real estate background
Cash transaction with an unknown person (fictitious sale)
thanx for your invitation sir
but what shall i say
any way
thanx
To be honest, I don't quite understand why the fact that a client is a known frequent gambler or high roller at a casino is a money laundering indicator. I play Casinos-NL myself, and I really want to know what's wrong with it because it's not bad for me at all, it's just entertaining, sometimes profitable, and 100% legal.
