Concentration account
id:
concentration-account-315-18603948
title:
Concentration account
text:
A concentration account is a sole account used for the internal purposes of a financial institution to facilitate the processing and settlement of multiple or individual customer transactions within the institution, usually on the same day. Such accounts can lead to the concealment by financial institutions of transactions made by customers. However section 325 of Title III of the USA PATRIOT Act banned their use for such purposes by prohibiting financial institutions from allowing clients to di
brand slug:
wiki
category slug:
encyclopedia
description:
Type of account used by financial institutions
original url:
https://en.wikipedia.org/wiki/Concentration_account
date created:
date modified:
2023-02-17T02:49:34Z
main entity:
{"identifier":"Q5158319","url":"https://www.wikidata.org/entity/Q5158319"}
image:
fields total:
13
integrity:
14