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It's not so much about helping the situation as it is identifying whether or not the bank is actively monitoring and mitigating money laundering (which this sit
by coderintherye 5y ago
It's not so much about helping the situation as it is identifying whether or not the bank is actively monitoring and mitigating money laundering (which this situation would technically fall under as the mule is laundering the money through the bank). If they are failing to identify and report these then it could face regulatory action.
- 1123581321 5y agoI see. I’d be very surprised if those amounts didn’t generate the required SARs. KYC is also not foolproof.