A system red flag has popped up... a customer has been depositing increasing funds to an offshore account. The amounts seem to have started small late last year but steadily increasing.
They have all the hallmarks of a romance scam. You contact the customer to check that the payments are authorised by them. The customer is adamant the transactions are legitimate - that their new partner who they met online needs help with some medical bills and they will soon be meeting up in New York. The following day, $5k is is paid into that same account, which is a significant amount for this customer.
WHAT WOULD YOU DO?
Here are some questions to start off your exploration of this dilemma.
- What is your duty in this situation?
- Are you aware of any international legal requirements?
- Who are you most accountable to?
We challenge you to create a healthy discussion with your colleagues and post a comment below. You could even encourage them to consider taking The Banking and Finance Oath!
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