Is your commercial customer involved in money laundering?

Description

Abstract: It often falls to loan officers, who have an in-depth understanding of customer relationships, to flag potential transactions that might indicate money laundering. This article discusses the three steps of the money laundering process and lists some red flags lenders should watch for in determining whether a potentially criminal act might be occurring. Warning signs include an unplanned loan pay-down or payoff, with no apparent business reason or explanation, and reluctance to provide the purpose of the loan or how the loan proceeds are being used.