Wire

Customer owns a dealership, wants to wire to purchase a vehicle, but use his personal information instead of the dealership info so person he is purchasing from does not know he is a dealer - money is being wired out of his business acct. - should this wire show it is from the business, since the funds are from his business acct. or since he owns the business is it ok to show from him

wire should show the originator as the account the funds are coming from. If he does not want to show the business info, i'd suggest he transfer the funds to his personal account and wire from there.

I'd also add that suggestions such as these to somehow "hide" or "disguise" the true source of funds or nature of the transaction may warrant some escalation to and/or due diligence from your AML department. Why does this customer not want the information sent on the wire to reflect the transaction? I'd want to be wary of appearing to "advise" the customer, or appearing to "help" the customer do this.

My question is, do banks have the right to refuse doing a foreign wire transfer for a customer who we suspect of money laundering/or possible terrorist financing. Multiply SAR's have been filed. Wire's come into his account and he wire's fund's out to Nigeria, Hong Kong, or Thailand. With no reasonable explanation.

Yes. You are not a public utility, at least not yet.

How you word your refusal may be difficult, but you have a start on it by saying the explanations offered are not adequate. FYI, some money center banks require the customer to present them with a copy of the invoice as a condition of sending any foreign wire transfer.