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Funneling Cash to Central Account?

Answered by: 

Question: 
Why does our financial institution no allow people to deposit cash into another person’s account?
Answer: 

Sometimes drug money is deposited in small increments around the country into a central account by non-account owners. This is funneling. Then the money is moved using trade based money laundering or other methods.

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Learn more about Deborah Crawford’s

BSA Red Flags for Money Laundering—Staff Training webinar.

First published on 03/21/2021

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