Woman's $120K Disappears from Citibank - Banks Investigate as Account Closures Rise Amid Money Laundering Concerns

$120,000 disappeared from woman's Citibank account after being transferred from a regional bank

Citibank said the money was sent back to its "rightful owner" and would close her account

Both Citibank and regional bank are investigating the matter after money disappeared

Banks have been ramping up account closures due to suspicious activity concerns

Just 4% of suspicious activity reports from banks result in follow-up by law enforcement, with small fraction leading to arrests