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BSA/AML Compliance & Non-profit Accounts

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Question: 
What are the risks associated with opening non-profit accounts when BSA/AML compliance is involved?
Answer: 

One specific AML concern is that the non-profit could be a front for terrorist financing. You should assure yourself that disbursement patterns don't reflect remittances to questionable charities in countries with known terrorist activity.

First published on BankersOnline.com 7/06/09

First published on 07/06/2009

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