Which option describes a funds transfer that is between the same person across different accounts?

Which option describes a funds transfer that is between the same person across different accounts?

• A. Transfers to a charity.
• B. Transfers between the same person to different accounts.
• C. Transfers to a single account only.
• D. Transfers to a government agency.

Answer: (B)

The key idea is an internal transfer between accounts owned by the same customer. When someone moves money from one of their accounts to another account they control, it’s simply a cash-management action within the same person’s footprint. This describes inter-account transfers exactly. Transfers to a charity or to a government agency involve sending funds to third parties, and moving to a single account doesn’t involve distributing funds across multiple accounts the person owns. In AML terms, inter-account transfers are common and usually legitimate, though they can be flagged if paired with unusual patterns or red flags.

The key idea is an internal transfer between accounts owned by the same customer. When someone moves money from one of their accounts to another account they control, it’s simply a cash-management action within the same person’s footprint. This describes inter-account transfers exactly.

Transfers to a charity or to a government agency involve sending funds to third parties, and moving to a single account doesn’t involve distributing funds across multiple accounts the person owns. In AML terms, inter-account transfers are common and usually legitimate, though they can be flagged if paired with unusual patterns or red flags.