Black Market Peso Exchange Indicators

Red flags include:

  • Payments made in cash or by wire by a third party

  • Use of third party cheques, bank drafts or money orders

  • Structured currency deposits under the reporting threshold

  • Consumer checking accounts that become dormant

  • Personal checking accounts opened by foreign nationals who come into the bank together

  • Multiple accounts opened the same day

  • Increases in the amounts of currency deposits by US businesses that export to Columbia

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