Thread Starter: Anonymous
Title: Re: Red flag issues
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As the BSa officer, I am having issues with this situation. Received a call from a person who lives out of our area. Wants to open a checking account with 1 Million dollars cash. Questioned the source of funds only to be told its is from restaurants he owns? Higher ups are excited about this, I see red flags. He did not say he owns these establishments. Why would he have that much money in cash on him. I wouldn't think that a restaurant would be that cash intensive. My first thought is that this is a cannabis cash intensive business trying to establish an account. Could not tell us how he heard about our institution. He was not referred by any of our current customers. This situation just does not sit right. We don't have to allow this person to open an account here. I would like to be extremely cautious but need any direction or assistance to deter them from allowing this. Any suggestions would be greatly appreciated.
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