Type of client (Client risk factors) Non-resident client and client who has no address or multiple addresses Client or beneficial owner who is a politically-exposed individual or a family member or close associate of any such individual Legal persons or ... Read More →
Typologies on ML/TF
Library on Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT)
Holders of Stored Value Facilities – AML/CFT Red Flags
Transactions Which Do Not Make Economic Sense A customer relationship with the relevant holder where a customer has a large number of accounts with the same relevant holder, and has frequent transfers between different accounts. Transactions in which assets are ... Read More →
Financial Advisers – AML/CFT Red Flags
Transactions Which Do Not Make Economic Sense Transactions that cannot be reconciled with the usual activities of the customer, for example switching from investing predominantly in blue chip stocks to penny stocks. A customer relationship with the financial ... Read More →
Banks – AML/CFT Red Flags
Transactions Which Do Not Make Economic Sense Transactions that cannot be reconciled with the usual activities of the customer, for example ―(a) the use of Letters of Credit and other methods of trade finance to move money between countries or jurisdictions where ... Read More →
Direct Life Insurers – AML/CFT Red Flags
Transactions Which Do Not Make Economic Sense A customer relationship with the direct life insurer that does not appear to make economic sense, for example, the early redemption of a policy when the surrender value is less than the value of premiums paid. ... Read More →
