Compliance Essentials #21 – Rebound accounts: understanding a money laundering scheme
Phoenix Compliance Essentials #21 Today’s focus: rebound accounts, understanding a circumvention scheme used in money laundering networks. ➡️ Definition A rebound account (also referred to as a transit account) is a bank or payment account used as an intermediary to conceal the origin of funds or circumvent certain control measures and international sanctions. In practice, … Read more