A quarterly review is conducted on a retail customers account at a bank located in a jurisdiction with currency reporting thresholds. A number of large deposits of financial instruments drawn on other institutions in amounts under thresholds were noted. This activity did not fit the accounts historical profile. A suspicious transaction report will most likely be filed if what also occurred?

A quarterly review is conducted on a retail customers account at a bank located in a jurisdiction with currency reporting thresholds. A number of large deposits of financial instruments drawn on other institutions in amounts under thresholds were noted. This activity did not fit the accounts historical profile. A suspicious transaction report will most likely be filed if what also occurred?
A . The customer has defaulted on a large loan with the bank
B. The deposited financial instruments were sequentially numbered
C. Four deposits were made during this period that exceeded the thresholds
D. The customer purchased financial instruments exceeding the threshold on three occasions

View Answer

Answer: B

Explanation:

"Laundering risks and ways laundering can occur through vehicle sellers include • structuring cash deposits below the reporting threshold or purchasing vehicles with sequentially numbered checks or money orders"