Over the weekend, our commercial accounts person declined to open a new business account for a local business that is currently under federal investigation. Details have been very lacking, but the IRS's Criminal Investigation Department raided the business a couple of months ago and have frozen the company assets at their primary financial. (upwards of $1.5 million)
He came up to me this morning to tell me of this, (which I'm glad to not have to worry about any accounts for this business!) and informed me that both the director and his spouse opened accounts with us last month, and currently have around $60,000 sitting in them. I'm not really sure what, if anything I should do with these though. The funds came from cashier's checks from a different financial (not the one with frozen assets), paid to them personally, and other deposits are not suspicious at all. Aside from some additional monitoring, anything else that should be done? I don't feel like they would require anything more, unless suspicious activity occurs on them.
Someone's about to get horned!