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Banks should watch for red flags of Covid-19 fraud, US FinCEN says

( February 2, 2021, 22:41 GMT | Official Statement) -- MLex Summary: Banks should watch for signs of transactions stemming from Covid-19 fraud schemes, the US Financial Crimes Enforcement Network said. Among the red flags are increased deposits from health agencies into accounts that do not ordinarily handle health sector business, which could indicate the defrauding of government programs, and unusual multiparty transactions among health companies, which could indicate kickbacks, FinCEN said in an advisory.See document below....

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