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#2164078 - 02/12/18 05:04 PM Bahamas leaks? Suspicious?
J_G Offline
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Joined: Dec 2010
Posts: 261
We have a customer who regularly wires funds to an entity in the Bahamas. I was doing some digging online for the entity and saw that it was cited in the Bahamas Leaks investigations since it is connected to 1 officer/intermediary. Should I consider this suspicious activity? I'm just not sure of the proper protocol to follow when we find an entity connected to either the Bahamas Leaks or the Panama Papers. Any guidance would be appreciated.

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#2164083 - 02/12/18 05:25 PM Re: Bahamas leaks? Suspicious? J_G
HappyGilmore Offline
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Joined: Jun 2004
Posts: 19,858
Pulling people out of the ditc...
what are your concerns? are there regulatory instructions regarding the entity (OFAC, others?)? what about the activity makes it suspicious?
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#2164100 - 02/12/18 06:41 PM Re: Bahamas leaks? Suspicious? J_G
J_G Offline
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Joined: Dec 2010
Posts: 261
I don't see anything about it that makes it suspicious. I didn't know if it was best practice to do anything additional when we come across something like that,

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#2164107 - 02/12/18 07:02 PM Re: Bahamas leaks? Suspicious? J_G
RockChucker, CAMS Offline
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Joined: Jul 2013
Posts: 1,700
The Country
Originally Posted By JB
I don't see anything about it that makes it suspicious.


Not suspicious, you don't file. But sounds like an account you may want to keep an eye on in case some suspicious does happen or you gain additional information that helps to connect the dots.
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#2164122 - 02/12/18 07:39 PM Re: Bahamas leaks? Suspicious? J_G
Princess Romeo Offline

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Where the heart is
My first question would be - what is the normal and lawful business activity that these wires represent? It is difficult to identify suspicious activity unless you know what comprises normal business (including investment) or other apparent lawful purpose activity.
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