AML – Branch Presentation

Module 3
The Numbers
Accounts
The opened with Cash Deposits
Numbers

• According to RBI, Currency In Circulation (CIC) on

March 31, 2023
• Rs 3.62 lakh crore in Rs 2000 denomination
• Where will this cash go?
• Bank deposits?
• Money intensive businesses
• Money Mules
• Structuring etc.
The Red Flag Indicators
Accounts
Red Flagopened with Cash Deposits
Indicators

• Accounts opened with Cash deposits

• Single premium, non-remunerative Insurance Policies

Accounts
Red Flagopened with Cash Deposits
Indicators

• Frequent locker operation + 2k cash deposit

• High % of fake notes in cash deposit

Accounts
Red Flagopened with Cash Deposits
Indicators

• YBL customer insisting on exchange in lieu of a/c

deposit

• Probing for accounts to deposit cash

Accounts
Red Flagopened with Cash Deposits
Indicators

• Loan foreclosure through Cash

• Sudden increase in cash deposit

Accounts
Red Flagopened with Cash Deposits
Indicators

• Tempting incentives to open accounts with large

balances

• Deposit / exchange done repeatedly by same customer

STR – CASE
CASE Strsh Deposits
STUDY

➢ Newly opened account

➢ Profession: Metal / Scrap Dealers

➢ Proprietorship firm

➢ Newly incorporated entity

➢ Multiple entities opened accounts in same branch during same period

➢ Declared annual turnover: up to 250 Crores

Accounts opened
Employee with Cash Deposits
Action

ACTION TAKEN- Q1 FY24 # OF EMPLOYEES

S0 - Caution Mail/Letter 2
S1 - Warning Mail/ Letter 7
S2 - Strict Warning 6

S2 - Strict Warning + APR Action( Increment/ Bonus/ Rating) 2

S3 - Asked to Leave (Misconduct) 3

S3 - Termination (Misconduct) 2
Grand Total 22
Thank You