Also known as fixed deposits or guaranteed investment certificates in some jurisdictions, these instruments involve placing funds for a set term, earning interest until maturity. They typically offer higher returns than savings accounts but may impose penalties for early withdrawal, making them suitable for secure savings and financial planning over a defined period.
Main/
Time Deposits
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Code
IN0036
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Name
Time Deposits
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Version
1.0
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Category
Bank & Deposit Accounts
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Created
2025-03-12
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Modified
2025-04-02
Related Techniques
- Criminals place large, atypical deposits into time-locked savings instruments (e.g., fixed deposits or certificates of deposit).
- They later initiate early withdrawals despite penalties, treating the fees as a cost of laundering.
- The withdrawal proceeds, issued by a reputable financial institution, disguise the illicit origin of the funds as standard account payouts.
- Complicit bank leadership may accept large deposits from criminal sources and waive the typical due diligence.
- Funds earn interest over time, making the proceeds appear legitimate when withdrawn.
- Embedded or corrupted staff can ensure no red flags are triggered, enabling long-term layering under the guise of standard banking activity.