“In a bid to close potential money laundering loopholes, JPMorgan Chase tells FOX Business it is set to roll out a new policy that requires customers who want to make a cash deposit to show identification and be listed on the actual account.  It is believed that the New York-based financial giant would be the first big bank to enact such a change. Chase tellers are expected to begin asking customers for ID when making cash deposits on February 1, but the policy is not expected to be strictly enforced until March 3, Chase told FOX Business. ‘We are making this policy change for cash deposits only to combat misuse of accounts, including money laundering,’ a Chase spokesperson said.”

http://www.foxbusiness.com/industries/2014/01/14/chase-revamps-cash-deposit-rules-to-ease-money-laundering-risks/

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