Channel
Remittance and money transfer: the money-laundering typologies a scenario should reach
10 of the 50 typologies in the dictionary apply to remittance and money transfer. On the coverage chart this is the column REM; each typology below is one sector in it.
This channel settles in real time or the same day, so sanctions screening reaches it only if it runs before the payment is released; a daily or later screen on it is flagged "screened in batch". Offered by default for: remittance provider.
Reference lines on this channel
held figures- BSA BSA-REC-1 names $3,000 for funds-transfer records.
- FATF R.16 INR16.8 names USD or EUR 1,000 for the cross-border de minimis threshold a country may set.
Typologies that apply
10| Typology | Group |
|---|---|
| Many-to-one and one-to-many | Funnel, mule and third-party deposits |
| High-risk jurisdictions | High-risk geography and cross-border |
| Cross-border activity out of profile | High-risk geography and cross-border |
| Money services business customers | PEPs, private banking and correspondents |
| Structuring below the funds-transfer recordkeeping line | Round amounts and velocity |
| Sanctions name screening | Sanctions screening and interdiction |
| Comprehensively sanctioned geographies | Sanctions screening and interdiction |
| Missing originator or beneficiary information | Wire transparency |
| Drug trafficking proceeds | Trafficking and other priority red flags |
| Terrorist financing indicators | Trafficking and other priority red flags |