Money laundering through money remittance ... - Council of Europe

2010 - Money Laundering through Money Remittance and Currency Exchange Providers
Agents
Personal remittances sent to jurisdictions that do not have an apparent family or business
link.
Remittance made outside migrant remittance corridors (e.g., Asian foreign domestic remits
funds to South America).
Personal funds sent at a time not associated with salary payments.
The customer seems only after the counting to know which amount is being transferred.
The customer shows no interest in the transfer costs.
The customer has no relation to the country where he/she sends/receives the money and
cannot sufficiently explain why money is sent there/received from there.
The customer has a note with information about payee but is hesitating if asked whether to
mention the purpose of payment.
Large or repeated transfers between the account of a legal person and a private account,
especially if the legal person is not a resident.
Large amounts are transferred to companies abroad with a service provider address.
Large or frequent transfers of money.
Frequent transfer of value that is not related to the customer‟s business.
Use of groups of people to send money.
Use of different money remittance businesses.
Amounts sent are higher than usual.
There is not relationship between sender and the beneficial owner.
The operations are irregular.
Receiving money from different parts of the world (developed countries) from different
people.
Money is received during short periods of time.
Money is received from different money remittance companies.
Money is withdrawn in cash.
Multiple senders toward a single individual.
Reluctance to provide customers‟ identification to parent MR/CE business.
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