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.
Front Company A front company is considered to be a fully functioning company with the characteristics of a legitimate business, serving to disguise and obscure illicit financial activity.See also: Shelf Company, Shell CompanySource: FATF
Lawyers – AML/CFT Red Flags 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 arrangements that are personal asse...
Areas concerning AMLCFT Framework RiskGovernance
CommunicationRisk-Based Approach (RBA)
There are three areas under RBA:Customer OnboardingRisk profiling
Customer Due Diligence (CDD)
Customer AcceptanceTransaction MonitoringIdentification of sus...