Hi I wanted to share this great video from AML employee, good information on avoiding freezing of your bank account
Red flags
1. Lots of transactions just below the reporting limit (10-15k eur)
2. Changing account details and making large transfer afterwards (also in order to prevent account takeover)
3. Unusual spending pattern - for example person with low income or no job has transactions for 5* hotels, luxury goods etc
4. Low buyers diversity - business that operates in a niche where it should have variety of customers but has only a few of them
5. Disproportionate flow-through - credits total and debits total are equal in a business niche where it doesn't make sense
6. High risk countries - transactions with tax havens, countries with high bank secrecy, countries exposed to financial crime
7. Immediate withdrawal to private wallets - immediate withdrawals after receiving each transfer to a different account
8. Many cash transactions
9. Sudden use of multiple sub accounts
10. Frequent crypto transactions
Red flags
1. Lots of transactions just below the reporting limit (10-15k eur)
2. Changing account details and making large transfer afterwards (also in order to prevent account takeover)
3. Unusual spending pattern - for example person with low income or no job has transactions for 5* hotels, luxury goods etc
4. Low buyers diversity - business that operates in a niche where it should have variety of customers but has only a few of them
5. Disproportionate flow-through - credits total and debits total are equal in a business niche where it doesn't make sense
6. High risk countries - transactions with tax havens, countries with high bank secrecy, countries exposed to financial crime
7. Immediate withdrawal to private wallets - immediate withdrawals after receiving each transfer to a different account
8. Many cash transactions
9. Sudden use of multiple sub accounts
10. Frequent crypto transactions
