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Suspicious Activity Reports Identify Non-Profit Organizations As Illegal Money Remitters

In 2003, Bureau of Immigration and Customs Enforcement agents initiated an investigation of several non-profit organizations in the United States. These were all registered as tax-exempt organizations. The investigation revealed the organizations were operating as illegal wire remitting businesses, allegedly co-mingling drug proceeds with donations. Suspicious Activity Report documentation revealed approximately $3 million in transactions during a three-month period.

Examination of Suspicious Activity Reports determined that most incoming funds were from “donations” and a large number of third party deposits. Funds were transferred out of the account using checks, cashier’s checks and wire transfers to a number of entities. Outgoing funds were often sent to accounts affiliated with suspected criminal organizations.

(Source: Bureau of Immigration and Customs Enforcement)

[Published in The SAR Activity Review – Trends, Tips & Issues, Issue 7, August 2004]





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