Introductory BSA/AML Examiner School, Providence, RI

Electronic Cash

• Prepaid Access Cards – Closed system – Open system • Computer e‐cash

– Downloaded via modem – On‐line repository – Access, store and redeem funds

Electronic Cash

• Risk factors – Transfers to/from unknown third party – Avoidance of border restrictions – Instantaneous transactions – Cardholder activity difficult to determine – Less transparent transactions