Services provided by financial institutions that involve the processing, counting, sorting, and safekeeping of physical cash. This includes handling large-volume deposits, withdrawals, and currency exchanges for businesses or individuals requiring significant liquidity.
Main/
Cash Handling Services
[]
Code
PS0104
[]
Name
Cash Handling Services
[]
Version
1.0
[]
Category
Payment, Transfer & Remittance Services
[]
Created
2025-03-14
[]
Modified
2025-04-02
Related Techniques
- Bribers use large or repeated cash transactions to deliver funds surreptitiously, avoiding electronic trails.
- Physical currency lacks the inherent monitoring of digital transfers, making it easier to conceal kickbacks and reduce visibility to compliance systems.
- Facilitate substantial physical cash transactions for purported construction expenses and subcontractor wages, reducing electronic audit trails.
- Accommodate bulk cash deposits or withdrawals that obscure the true origins of funds involved in large development projects.
- Enable businesses to make large-volume cash deposits and withdrawals, allowing criminals to commingle illicit proceeds with legitimate income before disbursing them as wages.
- Provide counting and safekeeping mechanisms that reduce scrutiny over the true source of funds, facilitating under-the-table cash payrolls.
- Large volumes of physical currency are processed, counted, and sorted, creating potential blind spots.
- If staff and technology are not fully trained or equipped to detect forgeries, counterfeit notes can be mixed into legitimate cash streams.
- Businesses that count, sort, and process cash on behalf of clients can integrate illicit currency with legitimate takings, minimizing visibility of unusually large sums.
- Through routine bulk processing, criminals obscure their deposits among legitimate transactions, facilitating sub-threshold deposits that appear normal.
- Colluding employees (e.g., tellers or vault custodians) can falsify internal records, siphoning funds from vault holdings without triggering alerts.
- Gaps in oversight or reconciliation procedures enable unauthorized cash removals to remain unflagged within the bank’s infrastructure.