4 ms·
It's the other way around. If you're flagged for AML investigation, telling you it would be tipping off and explicitely illegal.
by KptMarchewa 3y ago
It's the other way around. If you're flagged for AML investigation, telling you it would be tipping off and explicitely illegal.
- Detrytus 3y agoIf you are engaged in money laundering then the very fact that your funds were frozen is enough of the tip-off. If you’re not then they might as well tell you about their suspicions. If you were mixed up in some money laundering scheme involuntarily you might even be willing to help the investigation
- antihero 3y agoMaybe, but not legally.
- KMag 3y agoExactly. I spent 11+ years in a Fortune 500 financial services company, and my annual anti-money laundering training always stressed (and included one quiz question) that if you saw something fishy, escalate to Compliance, and UNDER NO CIRCUMSTANCES share suspicions with clients. Even if some aspect of the regulation doesn't make much sense, you do not cross the regulators.
- bee_rider 3y agoIf the only confirm cases where the user isn’t suspected of money laundering, the non-confirmation becomes equivalent to confirmation that the user is suspected of money laundering.
- yamtaddle 3y agoIt does kinda seem like if it's flagged for investigation... like, eventually an investigation should happen, right? And then you either get your money back or are charged with a crime? I get that that's not what actually happens, but it's pretty weird that it doesn't. They can't tell you about it because it's flagged for investigation. When's the investigation? Never.