George works as a Senior Compliance Analyst with UNO Bank (UNO). His everyday job responsibilities include analysing escalations from UNO's retail branches and automated reports to explore whether the identified matters are to be reported to the AUSTRAC. On 01-Oct-2022, the following matters are allocated to George:

2.UNO's newly upgraded AML-CTF software Siebel-10 can cross check the transaction references and has identified a student account with multiple credits stating ".5 meth", ".1 coca", "50 patches" and "10 ice" as suspicious. George investigates the account particulars and identifies that:

i.the credits are from other bank accounts.

ii.the average monthly remittances are less than $100.

3.The automated report has red flagged Mr. John's account for multiple transfer of small amounts to South Asia. George's investigations reveal the following:

i.John has recently purchased a new VPN facilitating adult website "olyfans".

ii.John's KYC documents do not show any relation/work connection to South Asia.

Please analyse the above mentioned scenarios and decide what action must be taken by UNO bank/George to comply with the statutory obligations under Anti-money Laundering and Counter-terrorism Financing Act, 2006 (Cth).