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#2127150 - 04/19/17 10:17 PM Consultant for New Bus. in IRAQ
Lele Offline
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Lele
Joined: Feb 2007
Posts: 825
In the Sun
We have a customer that states he is a "Consultant for New Businesses in Other Countries' - IRAQ and Africa. I feel Red Flags all over this account. Opened with $100 cash. Says he will be sending and receiving wires to IRAQ and Africa monthly from $5-10,000. Cash w/d will be through ATMs. I also feel this could be a scam on him and on the 'new businesses' he is consulting with. Has anyone opened an account like this? Or heard of this as being a scam?
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#2127152 - 04/19/17 10:31 PM Re: Consultant for New Bus. in IRAQ Lele
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 76,928
Galveston, TX
Just say no.
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#2127153 - 04/19/17 10:35 PM Re: Consultant for New Bus. in IRAQ Lele
Lele Offline
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Lele
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Posts: 825
In the Sun
I agree.. I'm the BSA Officer/Compliance and always like to give them more than just close or don't open this account.
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#2127155 - 04/19/17 10:40 PM Re: Consultant for New Bus. in IRAQ Lele
BrianC Offline
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BrianC
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Illinois
Can I interest you in some Iraqi Dinars? Or to quote King Arthur,"Run away...Run away...!"
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#2127156 - 04/19/17 10:43 PM Re: Consultant for New Bus. in IRAQ Lele
Lele Offline
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Lele
Joined: Feb 2007
Posts: 825
In the Sun
I have a little more information- he says this is a Security Company and he has one with Ghana.
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#2127160 - 04/19/17 10:56 PM Re: Consultant for New Bus. in IRAQ Lele
Elwood P. Dowd Offline
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Next to Harvey
Congratulations on your new hobby!
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#2127201 - 04/20/17 01:02 PM Re: Consultant for New Bus. in IRAQ Lele
ACBbank Offline
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ACBbank
Joined: Jul 2006
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New York City
There are ways to back up these claims. If it's a legit security company, ask him for copies of his contracts. Let's assume this that relationship is generating enough revenue to justify opening the account, you're still going to want to know who he is doing business with.
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#2127204 - 04/20/17 01:09 PM Re: Consultant for New Bus. in IRAQ Lele
Daisy Doodle Offline
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Southern U.S.
Strictly wires and cash in the account. What could go wrong.

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#2127205 - 04/20/17 01:11 PM Re: Consultant for New Bus. in IRAQ Daisy Doodle
edAudit Offline
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edAudit
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You are here
Originally Posted By Daisy Doodle
Strictly wires and cash in the account. What could go wrong.


It is not like it is coming from a high risk geography or something like that.
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#2127208 - 04/20/17 01:16 PM Re: Consultant for New Bus. in IRAQ Lele
John Burnett Offline
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John Burnett
Joined: Oct 2000
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Cape Cod
I think it's pretty clear that if your bank allows this account to open, it will have to spend inordinate amounts of time checking out sources and beneficiaries of funds in a country where there are better than average odds you'll be looking at OFAC matches and other undesirable outcomes. I cannot fathom how any bank other that those already intimately involved in moving funds through the Middle East could possibly profit from such an account.
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#2127283 - 04/20/17 04:37 PM Re: Consultant for New Bus. in IRAQ Lele
RockChucker, CAMS Offline
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Joined: Jul 2013
Posts: 1,558
The Country
But John, he is such a good customer and a friend of one of the loan officers.....besides, what could possibly go wrong? wink
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#2127300 - 04/20/17 05:21 PM Re: Consultant for New Bus. in IRAQ RockChucker, CAMS
Peach Offline
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Those always turn out well...............NOT

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#2127315 - 04/20/17 06:18 PM Re: Consultant for New Bus. in IRAQ RockChucker, CAMS
Just Jean Offline
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Posts: 582
USA
You forgot to state that he's really nice. That's the main thing.

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#2127332 - 04/20/17 06:38 PM Re: Consultant for New Bus. in IRAQ Lele
kw004h Offline
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Posts: 219
Chicagoland, IL
And..... don't forget that he's in the branch all the time. The tellers know him. So, that means he's a good customer.

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#2127361 - 04/20/17 07:55 PM Re: Consultant for New Bus. in IRAQ Lele
John Burnett Offline
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John Burnett
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Cape Cod
Y'all feel better after venting all that pent-up frustration? wink
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#2127405 - 04/20/17 10:54 PM Re: Consultant for New Bus. in IRAQ Lele
RockChucker, CAMS Offline
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Joined: Jul 2013
Posts: 1,558
The Country
Yup! Oh wait. Was that a rhetorical question?
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#2127434 - 04/21/17 01:01 PM Re: Consultant for New Bus. in IRAQ Lele
thomasj Offline
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Joined: Mar 2001
Posts: 5,062
Pennsylvania
Y'all hold my beer, I have a few more:

"Why are you intent on creating a negative customer experience?"

"Nothing great has ever begun with the word No."

"We're not looking for ways to say no, we're looking for ways to say Yes." (This was actually a graphic that was not so subtle and placed on the wall outside my office at my former employer)
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