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PodcastCompliance
Flagged for money laundering? This is how your bank can drop you
Why does a bank terminate an account, and why doesn't it have to tell you the reason? Source of funds, cash, inheritance.
The episode is in Hungarian.
The episode, embedded:
If you're buying property, inheriting, or moving a larger sum, this episode may save you a rejected transaction.
What we cover:
- why a bank terminates an account contract, and why it isn't obliged to give
you the reasoning or the criteria behind it
- what happens if you inherit 35 million forints and want to pay the deposit
in cash
- proof of source of funds: when it's asked for, and what follows if you
can't produce it
- the questions that come before signing — assets, car, outstanding loans,
the origin of the money
- why this regulation arrived from the United States rather than the EU
- why global banks fail on compliance gaps
- how the movement of the dollar is monitored, and why it's also a political
question whose case gets made
- cybersecurity and innovation: why it's hard to keep pace