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KB Home / AML / Which customers might pose money laundering risk?

Which customers might pose money laundering risk?

Article ID: 2945
Last updated: 10 Jun, 2019

A business might be at the risk of money laundering from:

  1. customers who are not local to the business.
  2. customers involved in a business that handles large amounts of cash.
  3. new customers carrying out large, one-off transactions.
  4. a customer introduced to the business – because the person who introduced them may not have carried out ‘due diligence’ thoroughly.
  5. businesses with a complicated ownership structure that could conceal underlying beneficiaries.
  6. a customer, or group of customers, who makes transactions with the same individual or group of individuals.
Article ID: 2945
Last updated: 10 Jun, 2019
Revision: 1
Views: 33
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