VASPs see unhosted-wallet transfers, anonymity-enhancing tools, mixers, cross-border layering.
Key concepts
Top risk indicators
Mixers / tumblers
Funds passed through anonymity services.
Unhosted wallets
Counterparty wallets with no KYC.
Privacy coins
Monero, Zcash and similar.
Cross-chain hops
Bridge usage to obscure trail.