#QuickBiteCompliance Day 23
This post introduces the risks associated with Bank Drafts in relation to money laundering. Bank Drafts, being international monetary instruments drawn on reputable institutions, pose vulnerability to money laundering. They are typically made payable in cash upon presentation at the issuing institution’s account in another country. Understanding these risks is crucial in combating financial crimes.
#InclusiveRegtech #BankDraft
Source: https://www.acams.org/en/resources/aml-glossary-of-terms
