BANK FRAUD AND INSIDER ABUSE

Large cash balances, high wire transfer volume, and multiple deposits for a jeweler could be considered? (8.3-22)

a. money laundering

b. wire transfer fraud

c. check kiting

d. good business operation

Warning signs for money laundering

There are 41 listed in DOS manual page 8.3-20 to 8.3-21:

Increase in cash shipments that is not accompanied by corresponding increase in number of accounts.
Cash on hand frequently exceeds limits established in security program and/or blanket bond coverage.
Large volume of cashier's checks, money orders, traveler's checks, etc., sold for cash to non-customers ranging in amounts from several hundred to just under $10M each.
Large volume of wire transfers to and from offshore institutions.
Large volume of wire transfers for non-customers.
Large volume of cash deposits from business not normally cash intensive
High exemption limits
Incorrect/lacking CTRs
Frequent transactions just under $10M
Inquiries on how to avoid reporting requirements, etc.