Congressional Republicans believe the records could potentially show an effort by the president and his family to trade off his name. The White House calls the probe a 'political stunt.'
To help them get here, Congressional Republicans relied on more than 150 suspicious activity reports as a roadmap to follow what they call the Bidens’ complicated financial money trail.
Here’s a deeper look at suspicious activity reports and how Republicans are using them as a roadmap to investigate the Biden family:Financial institutions are required to file a suspicious activity report to the Financial Crimes Enforcement Network no later than 30 calendar days from when it detects a suspicious transaction that could have links to money laundering or terrorism financing.
Signs of insider trading and individual transactions of $5,000 or more often trigger an institution to file a report, but the Federal Deposit Insurance Corporation states that entities “are encouraged to file nonetheless in appropriate situations involving these matters, based on the potential harm that such crimes can produce.”
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