ML/TF risk for lawyers: rushed timeframes, complex arrangements, evasive customers, complex legal structures.
Key concepts
Top risk indicators
Rushed timeframes
Pressure to settle without due diligence.
Complex structures
Layered ownership without legitimate purpose.
Evasive customers
Reluctant to share basic identifying information.
Cash deposits
Settlement funds delivered as physical cash.
Third-party payments
Funds from someone other than the named buyer.
Dual-use goods
Transactions involving export-controlled items.