Types of Activity Requiring Further Review for a US-Based MSB

Types of Activity Requiring Further Review

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Question

A new AML Officer for a US-based money service business (MSB) is drafting procedures around types of activity that require further review. Which should be included? (Choose two.)

Answers

A. A customer visiting multiple branches of the MSB on the same day in order to transfer funds internationally.

B. A customer buying several money orders totaling over $10,000 USD using debit card on the same day using government-issued identification.

C. A customer sending funds to a family member living in a high-risk jurisdiction that is subject to civil unrest.

D. A customer buying multiple money orders for $250 totaling $2,000 USD.

E. A customer attempting to buy money orders under $3,000 USD in cash multiple times a day.

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Explanations

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A. B. C. D. E.

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