Definitions

A suspicion can be any reasonable grounds to believe that an activity is inconsistent with the customer expected behaviour. Read more about money laundering/terrorist financing red flags here. ... Read More →

Round-tripping is the process where funds are returned after being transferred to an entity, shell company, financial instruments, location, or a person that have lower regulatory standards or obligations - giving the impression that the funds have derived from a clean ... Read More →

Regulatory arbitrage is a practice where firms exploit the regulatory difference between different markets in order to circumvent unfavourable regulation. This can be achieved by conducting business, managing products and services in locations that have lower regulatory ... Read More →

Wilful blindness is a legal term for which a person is said to deliberately shut his eyes to the obvious, the result of which he does not care to have, he may be said to have been willfully blind to the truth. Source: Koo Pui Fong v PP. ... Read More →

Any person who discloses to any other person, information or any other matter, which is likely to prejudice an investigation. Tipping-off is one of the Financial Action Task Force Recommendation: Financial institutions, their directors, officers and employees ... Read More →