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#2253999 - 05/17/21 02:48 PM Sequential bills
Susan Offline
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If you have several interconnected customers, all of whom consistently deposit sequential bills on a regular basis, sometimes in substantial amounts, what is the significance of the sequential bills? I assume the funds are dirty, but I'm not sure how the sequential bills fits in.

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#2254053 - 05/18/21 05:50 PM Re: Sequential bills Susan
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maybe counterfeit?????

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#2254117 - 05/19/21 05:25 PM Re: Sequential bills Susan
edAudit Offline
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what is the significance of the sequential bills?


They area taking money from one source and spreading it around. Possibly to undermine BSA systems,
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#2254119 - 05/19/21 05:31 PM Re: Sequential bills edAudit
Richard Insley Offline
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Originally Posted by edAudit
one source and spreading it around
At face value, that's a textbook example of structuring.
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#2254120 - 05/19/21 05:35 PM Re: Sequential bills Susan
edAudit Offline
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Yes, thanks for clarifying my post Richard.
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#2254318 - 05/24/21 10:21 PM Re: Sequential bills edAudit
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Originally Posted by edAudit
what is the significance of the sequential bills?

They area taking money from one source and spreading it around. Possibly to undermine BSA systems,

Wait, what? There's BSA systems that capture the serial numbers of currency bills???

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#2254345 - 05/25/21 02:43 PM Re: Sequential bills Susan
BrianC Offline
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Pretty sure this would be something to train tellers to be on the lookout for. BSA compliance still requires people to interpret information.
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#2254414 - 05/25/21 09:34 PM Re: Sequential bills BrianC
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Originally Posted by BrianC
Pretty sure this would be something to train tellers to be on the lookout for. BSA compliance still requires people to interpret information.
I'm always amazed at the amount of responsibility and expectations and accountability for the people literally at the very bottom of the institution that are paid the least re:BSA. My old bank I swear everyone in BSA thought we employed MBAs and JD's and doctorates to run the teller line and they expected tellers to be all-knowing experts on every banking/financial reg out there.

Nope, most are just part-timer community college students working a job. Or little old ladies filling free time smile

You are spot-on though how much the BSA requires critical thinking interpretation and isn't just black and white like Reg CC or whatever.

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#2254416 - 05/25/21 11:16 PM Re: Sequential bills Susan
rlcarey Online
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Well, it would be pretty unusual as the bills would have to be coming directly from the Fed and as we all know - counting these bills by hand are a pain in arse as they regularly stick together. Any such deposits should immediately raise some red flags and if it is happening more than than once, a sit down with the customer is most likely in order. There is no logical explanation.
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