When trends show that markets are changing, does your CU adjust?
November 1, 2011
Most of us are familiar with the “boiling frog” anecdote. It metaphorically illustrates the danger of not recognizing the aggregate impact of incremental change until it’s too late to do anything about it.
Human trafficking, money laundering, trade-based money laundering and terrorist financing all come with their own sets of red flags for financial institutions. In addition, entities such as money services businesses and cash-intensive businesses can be legitimate, but also have potential to be used for illicit activities.