Client Login
Follow Us:       Call Us: 800-393-7273   |   954-583-4351    
Follow Us:  

Call Us: 800-393-7273 | 954-583-4351

US Probe of connection between banking remote check scanning and money laundering

US Bank Regulators are investigating the multi-billion dollar payments processing sector due to security gaps which leave the banking institutions exposed to money laundering schemes by drug cartels and terror groups.

Regulatory enforcement has forced banks to hire more staff to conduct in-depth reviews and invest in higher technology improvements.

There is still ongoing concerns that the “weakness in the check clearing process” still leave security gaps.  Banks receive massive numbers of scanned checks making them more difficult to screen than the traditional wire transfers for suspicious activity.

Banks can also “mine” data easier in the wires….however, it proves difficult in the large numbers of scanned documents.

In recent years the scan process “Remote Deposit Capture” has allowed businesses to scan massive amounts of checks and deposit them in US Banks.  The process takes seconds to complete and the physical checks never reach the bank.

This leaves the door open for the drug cartels and terror groups to set up check cashing businesses and scan checks, money orders and travelers checks that they purchase with “dirty dollars” and create deposits in the US Banks.  Then transfer the deposits to legitimate businesses that support the cartels and terror groups….immediately providing “clean currency”

At least four major banks have been cited by the regulators for not adequately enforcing the security measure needed to prevent this from happening…and it is expected that more will follow.

The technology exists to close this “security breach” however it will take time and a great deal of money to close it completely.

Ref source:  Reuters News,  Brett Wolf  ( forward from fellow PSDA member Chait )

Leave a Reply

Your email address will not be published.



  • This field is for validation purposes and should be left unchanged.


It has been nothing but a pleasure partnering with Chris Scala and Suncoast Marketing over the past few years. Chris is constantly providing us with creative ideas to best promote our brand. The products provided are always top notch. From our screen printed t-shirts for our field technicians to our embroidered polos, everything is timely and professionally done. They even handle last minute items when we want to wow VIP customers. Most importantly, Suncoast has taken the time to learn our logos and strict brand guidelines to make sure whenever printed, our logo looks the best. Chris truly understands how I operate and caters to our needs including how we can best communicate to what items we purchase. I highly recommend Suncoast for your marketing item needs
Cristina CrenshawHill York
Write a Testimonial
  • This field is for validation purposes and should be left unchanged.