Then, spend down the next block of funds that was purchased at that specific exchange rate.
If it is expected that the funds will be spent at multiple exchange rates, make sure to save all of the exchange transaction receipts.
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Although these lists are not all-inclusive, they may help banks and examiners recognize possible money laundering and terrorist financing schemes.
Fin CEN issues advisories containing examples of "red flags" to inform and assist banks in reporting instances of suspected money laundering, terrorist financing, and fraud.
In order to assist law enforcement in its efforts to target these activities, Fin CEN requests that banks check the appropriate box(es) in the Suspicious Activity Information section and include certain key terms in the narrative section of the SAR.
The advisories and guidance can be found on Fin CEN's website.302 Management’s primary focus should be on reporting suspicious activities, rather than on determining whether the transactions are in fact linked to money laundering, terrorist financing, or a particular crime.