>>drawing against uncleared effects.
That’s cross-firing.
I am always suspicious when a client banks with too many banks.
Some branch teams and the cash processing centres spotted the huge cash transactions and reported to the bank’s anti money laundering / financial crime team by the cashiers. The branches that didn’t report correctly need a rollicking, they were bringing in sacks of cash FFS!
The bank’s AML team have a lot of questions to answer here. They should not rely on RMs saying everything is ok etc.
All our staff and all NW’s staff have 6 monthly training on this.
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