Focus on EB-5 and EB-2 Visas Financial institutions are charged with mitigating the risks of products, services, and customers, and there are many risks presented in each area. For customer risk, one area that is often overlooked is the type of visa that a non-U.S. citizen has. Many institutions often don’t consider this as a […]
Imagine this: Nancy at ABC Credit Union calls Rayleen at MainStreet Bank to inquire about 3 large ACH transactions moving between accounts of the two financial institutions (FIs). The three transactions appeared in the transaction monitoring system at ABC Credit Union, prompting an AML investigation. Nancy suspects their member is a money mule. Rayleen at […]
As with any payment network, the ACH Network sees its share of fraudulent transactions. Fraudsters have set their sights on complex schemes that utilize Account-to-Account (A2A) transfers to funnel laundered money. Scenario One: The Mule Convinced she is in love with someone she met through an online dating website, Jane agrees to accept deposits […]
