Anyone else heard this? One of my clients was told that they should be considering attorneys and accountants as potentially high risk because the money they handle isn't or may not be their own. My client - which has a large credit card portfolio - is wondering how the heck they monitor for this. Obviously monitoring the account for normal business activity etc isn't difficult, but for things like cash advances, that's going to be trickier. How could you tell the person they have a cash advance limit of $5,000 but "oh, by the way, we want to know what you do with the money." That clearly isn't going to work.
Anyone else heard this or have any thoughts on the matter?
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I disbelieved what he was saying so hard, I probably created an alternate universe where it wasn't true.