- Help protect bank, our customers, and to meet regulations (rules set out by special unit unit of government). These are rules about proceeds (money) from criminal activity and terrorist financing.
- Investigate and report any suspicious activity (transactions that our clients conduct).
- I investigate bank accounts to understand where the money comes from (into the account) and moves to (out of the account). I check that our clients are not on the list of bad people that committed crimes (like Osama bin Laden). I also help to make sure that money going to other countries and coming from other countries over the internet are for the right reasons.
- I, along with my team and all employees of the bank, help the bank to know our customers so that if they are bringing in illegal money or doing something illegal with their money, we can report them.
- If we do our job right and report anyone we fell is trying to commit criminal behaviour with money throughout bank accounts they have with us, we can protect the bank and customers from criminal activities.
- Example: You see a person stealing money from another person. Then the person takes the money and puts it in his bank account. That money is bad money because it was not really his money. Or a guy comes into the bank to deposit money that he got from selling illegal drugs and the money smells like marijuana. The person committed a crime and is putting bad money into his account. We see that and we would report him to the special unit.
- Example: September 11 attack on World Trade Centre. Terrorists move money to the country and out of the country so that they can use it for attacks like September 11. My job at BMO, the special unit of the government and other institutions work together to help prevent something like that from happening.