The SIC received a suspicious transaction report (STR) from a local bank concerning a foreign resident. The suspect had received two wire transfers totaling approximately USD 200.000 and immediately withdrew the funds in cash from several branches. Shortly after the correspondent bank requested that the transferred funds be returned because the ordering customer had no means to cover the transfers and because of possible links to embezzlement offences.
The SIC investigation revealed ties between the above mentioned suspect and a foreign national. Information obtained from a counterpart FIU and law enforcement authorities confirmed that both were involved in money laundering, drug trafficking and possession of weapons.
Consequently, the SIC decided to lift banking secrecy off the bank accounts and forward its findings to the General Prosecutor and the concerned FIU.
