What are STR triggers?
Cash: Cash transactions conducted in an unusual amount; relatively small amount but with high
frequency; transactions conducted by using several different individual names for the
interest of a particular person; purchase of several insurance products in cash in a short
period of time or at the same time with premium payment entirely in a large amount and
followed by policy surrender prior to due date and purchase of securities by cash,
transfer, or checks under other person’s name.
Economically irrational transactions: Transactions having no conformity with the
initial purpose of account opening; transactions having no relationship with the business
of the relevant customer; transaction amount and frequency are different from that of
normally conducted by the customer; receipts/payments of funds made by using more
than one (1) account, either in the same name or a different one; fund transfers using the
account of reporting entities' employee in an unusual amount; if multiple inward or
outward remittance transaction is conducted with the person from the country or region
where terrorist organizations operate.
Fund Transfers: Fund transfers to and from high-risk offshore financial centers without
any clear business purposes; receipts of fund transfers in several phases and once
accumulated the funds are subsequently transferred entirely to other account; receipts and
transfers of funds at the same or approximately the same amount and conducted in a
relatively short period (pass-by).
Behaviors of the Customer: Unreasonable behaviors of the relevant customer when
conducting a transaction (nervous, rushed, unconfident, etc.); unusual curiosity about
internal system, control and reporting; customer/prospective customer gives false
information with respect to his/her identity, sources of income or businesses;
Customer/prospective customer uses identification document that is unreliable or alleged
as fake such as different signature or photo; customer opens account for a short period.
