we have a relatively new customer that owns several currency exchange offices. He also has arrangements with other currency exchanges whereby they process money exchanges to Mexico. The wires transfers work this way - money comes from Fla bank to us (chicago). From us (Chicago) funds are transferred to another bank in Tx. We have done our due diligence and have found nothing that we would categorize as suspicious. However, we know that the funds ultimately end up in Mexico since they are monies people send from here to there. We can't help but to feel uncomfortable about these funds. They've been very helpful in providing any and all info we've requested. We don't know if there's another way to check legitimacy of business and/or transfers. Any ideas or suggestions will be appreciated.

"We have done our due diligence and have found nothing that we would categorize as suspicious."

Running wire transfers through three different banks prior to the money making it to Mexico is not suspicious? Exactly what is the business reason for this????

Let me guess, they were previously banked by Wachovia??