Which customers might pose money laundering risk?
A business might be at the risk of money laundering from:
- customers who are not local to the business.
- customers involved in a business that handles large amounts of cash.
- new customers carrying out large, one-off transactions.
- a customer introduced to the business – because the person who introduced them may not have carried out ‘due diligence’ thoroughly.
- businesses with a complicated ownership structure that could conceal underlying beneficiaries.
- a customer, or group of customers, who makes transactions with the same individual or group of individuals.
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