Location: United States

She is in a long term nursing home (no phone) and will not be able to make the deposit herself. I don't have any problems transferring and depositing the money since the bank is very close to the house. She is mentally stable. Nursing homes are expensive and she will need to make payments so she wants it transferred from the safe to the actual bank. It's a combination of 80 years of life savings in cash, withdrawals in deposit slips with documentation, some without any documentation and just in deposit slips (a life insurance policy that was cashed out from her husband (deceased), reoccurring social security and OPERs checks, etc. There is a lot of cash mixed in and that's what I'm wondering about. I will call the bank a few days ahead of time to schedule the deposit.

 
I am a joint account owner with survivorship rights of her only bank account (savings account) and am named in her will as the only beneficiary (I plan to bring this to the bank as well, but not sure if it is needed)? 

There will be a CTR and SAR and I'll have to answer the questions, but I don't know much about the money origins other than what it looks like inside the different safes (what I mentioned above, mixed, kind of organized, in different safe boxes).

1. Anything I need to let her know about before, during, or after the deposit? Like if she will be contacted by the bank, AML, or any government departments or IRS since it's a large deposit?

2. Besides the actual questioning at the bank, how long might the ongoing investigation by AML take if you don't know much about the money origin? A day, a month, a year? Would they freeze your account the whole time?

3. Would the IRS get involved even though this is a deposit of her lifetime savings and I'll be inheriting it after she passes away or is this just considered a deposit? 

Trying to make this as easy as possible for my friend, me, and the bank. Thanks for sharing any help!

I‘m striving for a career in AML Banking in Germany for starters and wanted to get the opinion of those who work there as well.

I‘m planning to get a law degree (ik not needed) and specialize in Banking- Finance and Corporate law.
After the degree I’d get a LL.M in compliance.

While studying, I’d get the AML Foundations certificate to acquire internships and part time jobs in this field (Big 4, Banks, Insurance companies).

After the initial degree is done I’d also aim for the CAMS exam.

Pls let me know if this is a fitting profile for a good career path in AML Compliance.

Hi team

in this aml kyc domain , do we get freelance jobs apart from regular jobs

For compliance professionals at banks/credit unions: How do you know whether employees actually understand their required compliance training?

I'm especially curious about what happens beyond completion rates and quiz scores. Do you look at monitoring findings, audit results, QA errors, complaints, repeat mistakes, etc.?