What to do if you suspect someone is laundering money?

Report suspected violations of federal law to the Federal Bureau of Investigation (FBI).

1. Submit a tip online.
2. Contact your local FBI Office or call toll-free at 1-800-CALL-FBI (1-800-225-5324).
3. If you are in a foreign country, contact the nearest legal attaché office.

Who do I contact about money laundering?

Contact your local police department. In most cases, you can file your report by calling the police non-emergency phone number, or by going to the police station in person during regular business hours. If you believe there is a life-threatening emergency, don’t hesitate to call 911.

How does money laundering process usually begin?

Money laundering typically involves three steps: The first involves introducing cash into the financial system by some means (“placement”); the second involves carrying out complex financial transactions to camouflage the illegal source of the cash (“layering”); and finally, acquiring wealth generated from the …

What are some of the examples of suspicious transactions that needs to be reported to the principal officer?

An Indicative List of Suspicious Activities Transactions Involving Large Amounts of Cash.

Transactions that do not make Economic Sense.

Activities not consistent with the Customer’s Business.

Attempts to avoid Reporting/Record-keeping Requirements.

Unusual Activities.

How do I report suspected money laundering?

You can report suspicious activity to local law enforcement anonymously, but you may want to give them your name and contact information if you think you could be of further assistance. When you talk to an officer, tell them that you want to report suspected money laundering, and provide them with the information you have.

What to do if you suspect money laundering or terrorist financing?

You must try to identify any activity linked to money laundering or terrorist financing, for all parts of your business. If you know about or suspect money laundering or terrorist financing you must consider telling either: You also must consider whether you need NCA consent before you proceed with a suspicious transaction.

What are the signs of money laundering in the workplace?

Knowing what to look out for to spot the signs of money laundering is vital for all employees working within the regulated sector. Spotting the warning signs when it comes to money laundering could be make or break for a company depending on how fast you detect and respond to threats. 1. Reluctance to Provide Information

What are my obligations under the money laundering regulations?

If your business is regulated by the Money Laundering Regulations you are under a legal obligation to try to identify any activity linked to money laundering or terrorist financing that may involve any part of your company.