“This is a NORMAL bank procedure which is outlined in EVERY disclosure the bank gives out required by the gov’t at the time of opening an account.”
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It’s not a new account. His company has been dealing with BOA for ten years.
It doesn't matter! Banks have red flag systems in place for certain specious activities and when one of those flag raises they HAVE TO, REQUIRED BY BANKING LAW, investigate the activity...It's that simple.
Again, READ the FUNDS DISCLOSURE!