What are the risk indicators for account and deposit-taking services?
A range of typologies indicate that account and deposit-taking services can be used to facilitate money laundering and/or the financing of terrorism. The following circumstances may indicate a risk of money laundering or terrorism financing in connection with such services (26): • limited or no identification information held about account owners • limited or no information about beneficial owners of an account • complex account structures • multiple related accounts • frequent or elaborate movement of funds between related accounts • activity inconsistent with customer’s profile • cash deposited domestically, with the funds subsequently withdrawn from ATMs offshore • high volume of transactions within a short period • funds received from or remitted to countries of concern • frequent and/or unscheduled cash deposits to loan accounts • structuring of cash transactions to avoid reporting thresholds • transferring funds into third-party accounts • use of third parties to deposit funds in
