Issuing a list of tell-tale signs of money laundering, KPMG has warned banks in particular to be on the look out for unusual transactions that do not fit their customers’ profiles and to report any suspicions to the National Criminal Intelligence Service.
The warning signs include customers who change large quantities of sterling into large denomination foreign currency notes and those customers that pay no attention to the level of charges incurred by the large number of transactions executed through their accounts.
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