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Luxuries and larceny: ‘Following the goods’ for AML prevention

Moody’s Talks: KYC Decoded

CHAPTER

Verifying Transactions and Detecting Red Flags in Inheritance and High-Value Purchases

This chapter emphasizes the significance of establishing a cohesive narrative to authenticate transactions, particularly in contexts like inheritances or substantial purchases. It underscores the essential role of evidence and controls, such as utilizing photos, social media documentation, and face-to-face engagements. The discussion centers on educating teams to spot warning signs and rely on intuition to uncover potentially dubious activities.

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