Customer due diligence at the beginning and throughout your business relationship is key to identifying and mitigating your financial crime risk exposure. A&M applies a thorough, tiered method to gaining insight into the hidden risks to your customer base:
Enhanced Due Diligence
• In depth review of customer information when higher risk factors are present
• Mapping customer information to relevant risk factors such as source of funds, geography, business type, negative media, transaction activity, PEPs and beneficial ownership
Ultimate Beneficial Ownership
• Clarifying complex ownership structures, identifying illicit shell companies, and reviewing intermediaries
• Employing artificial intelligence/machine learning technology that helps solve the complex challenge of finding people engaged in financial crimes.
Global Sanctions Screening
• Identify politically exposed persons (PEPs) or persons that may expose an organization to financial fraud
• Identify persons or entities that are precluded from conducting business in the United States due to economic and trade prohibitions
The Treasury Department said 30 percent of high-end real estate deals that were subject under a new watchdog program involved "suspicious activity" and potential money-laundering. That program has been expanded and extended. Also a loophole has been closed that means real estate purchased via wire transfers is subject to the same scrutiny as that an all-cash deal receives.
https://www.cnbc.com/2017/08/24/a-third-of-luxe-real-estate-deals-involve-suspicious-activity.html
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