The second installment of the Anti-Money Laundering Online Workshop focused on Banking for MSBs on Thursday, October 22nd.
The David Letterman-esque countdown provided a unique take on top 10 reasons you are getting declined or exited from your bank.
The list offered insight into the banking world and their secret sauce to approving or declining MSB bank accounts and included:
7. Inadequate monitoring
6. Unqualified third party
5. Failure to adhere
4. Not knowing your business
3. Red flags
2. Not being transparent
If you are doing or have done any of those, you are in danger of getting declined and losing your bank account.
To get details on each of the topics above, watch the video.
Tags: AML, Anti Money Laundering, Money Service Business, MSB, Online Workshop