Which of the following is another example of a 'Red Flag'?
Understand the Problem
The question is asking for an example of a situation that could be considered a 'Red Flag' in a banking context, particularly regarding customer activities and account management. The references to various customer behaviors highlight potential risks that a bank manager might assess.
Answer
Customers who wish to open multiple accounts to separate activities.
The final answer is customers who wish to open multiple accounts to separate activities.
Answer for screen readers
The final answer is customers who wish to open multiple accounts to separate activities.
More Information
Opening multiple accounts to separate activities can be a red flag for suspicious financial behavior, like money laundering.
Tips
A common mistake is assuming regular banking activities are red flags without considering the context of unusual or suspicious behavior.
Sources
- Anti-money laundering red flags - CLC - clc-uk.org
- Examples of Red Flags - Business & Finance - busfin.uillinois.edu
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