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

Money Laundering through Money Remittance and Currency Exchange Providers - 2010
Using false identification and fictitious names for customers.
Frequent transactions or purchase of negotiable instruments under the reporting obligation.
Each agent work with a different money remitter.
Make false remittance operations.
Use false identity documents to send money.
Make too many operations.
Not so many people enter into the agent office.
Sending money to certain countries/cities.
Amounts sent are higher than usual.
Large volume of business in large person-to-person transactions.
Unusual ratio of sent to received transactions (the direction of the flow of the suspicious ratio
imbalance being determined by the context).
High ratio of larger than normal transactions (the complicit operator attracts the largertransacting
criminal customers).
Seasonal pattern of business that is different from other similar local businesses.
High percentage of customers that are high dollar or value customers.
High percentage of high-risk customers.
High percentage of criminal activity corridor business, where the location is susceptible to
involvement in known criminal activity, such as drugs, prostitution, certain fraud, etc..
High percentage of total dollar business by high-risk customers.
High volume of large or suspicious transactions in comparison to other MR/CE service
providers in the same area.
Turnover of the MR service provider, after changes in the management structure (with no
development of services) exceeds remarkably the flows that were recorded before those
changes.
Conducting transactions before or after business hours.
Common acceptance of false identification that permits structuring by customers that leave
funds in the system for more than the average time before pick-up.
Multiple transmissions to or receipts from a single customer in a high criminal activity
corridor.
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