Skip to content

Funneling and Cash Deposits

Answered by: 

Question: 
Why do some institutions not allow cash deposits unless you are an owner on an account?
Answer: 

Cash deposits by non owners could be a funnel account to accumulate drug and other criminal funds into a centralized accounts. Most institutions stay away from this if that is a risk for them.

--------------------------

Learn more about Deborah Crawford BSA 2022 Annual Staff Training webinar.

First published on 02/06/2022

Search Topics