A tale as old as time. Internal controls were shouting that this guy was up to no good and he needed to be removed as a client, but money flashed and upper management decided the risk was worth it.
My question is: if the AML department was sending up the smoke signal, what was the government doing with the reports being sent to them? Those two things go hand in hand. Where was FinCEN in all of this after being told of all the weird wires and cash activity?
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A tale as old as time. Internal controls were shouting that this guy was up to no good and he needed to be removed as a client, but money flashed and upper management decided the risk was worth it.
My question is: if the AML department was sending up the smoke signal, what was the government doing with the reports being sent to them? Those two things go hand in hand. Where was FinCEN in all of this after being told of all the weird wires and cash activity?