Do you know another way to spot money laundering? Comment if you do!

7 ways to spot money laundering in your business

?Here are seven key signs that indicate an individual may be involved in money laundering:

1. Multiple or unverified identification documents.
2. Large deposits of cash.
3. Abnormal transactions or financial activity.
4. Complex financial transactions, making it difficult to source the funds.
5. Cashier checks or money orders purchased with large sums of cash.
6. Evasive or defensive about financial information.
7. Large quantities of investment by third parties, with no explanation for the private funding.

One of the EU measures of the new whistle-blower directive in Europe is to report fraud activities such as money laundering.

Do you know another way to spot money laundering? Comment if you do!

Follow us to stay up to date with more facts about Fraud. This is an initiative from whistlehub.com because we want to spread awareness in all areas related to fraud, legal risk, and misconduct.

If you notice any suspicious activity in your organisation, don’t be afraid to report it. We are dedicated to bringing you a secure system that does just this in a completely anonymous way, please get in touch and join hundreds of other organisations making their workplace a better place.

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For information on the new directive, click here.

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