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When customers hide money

Question: 
My customer bought three cashier’s checks for $10,000 each and the checks are still outstanding and have been for a while. Do I need to let my BSA Officer know?
Answer: 

Yes, the examiners are interested in customers hiding money and why they are hiding the money. Sometimes we find out it is for a simple reason like a spouse that spends too much money. But sometimes concealing funds is meant to camouflage financial crimes.
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First published on 05/29/2016

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