A bank employee reviews wire transactions looking for indications of wire stripping.

Wire stripping is a technique used by money launderers to remove or alter information that identifies the originator or beneficiary of a wire transfer, in order to avoid detection or tracing. To detect wire stripping, a bank employee should compare the wire transaction as it enters and after it leaves the bank, and look for any discrepancies or missing information in the fields related to the originator or beneficiary. The employee should also check for suspicious phrases usually used to conceal originator or beneficiary identity, such as “for further credit”, “in favor of”, “on behalf of”, or “as instructed”.

CAMS Study Guide, 6th Edition, Chapter 3, Section 3.21

CAMS Study Guide, 6th Edition, Chapter 5, Section 5.31

ACAMS Chapter 3 Exam Questions, Question 792

FATF Guidance on Transparency and Beneficial Ownership, Section 3.23