Accountants face ML/TF risk via creating new entities, buying/selling assets, bookkeeping, managing customer assets.
Key concepts
Top risk indicators
Entity formation
Setting up companies/trusts with opaque ownership.
High-net-worth clients
Complex international structures.
Trust account work
Holding or transferring client money.
Asset transfers
Buying/selling business entities.
Inconsistent SOF
Source of funds doesn't match client profile.