The Importance of Asset Forfeiture to AML
AML Conversations
00:00
The Innocent Owner Defense
The banking situation is a little more complicated than the standard one. If someone uses his wife's car to go rob the bank, and she didn't know anything about it, she's an innocent owner of the car. The other situation that could be problematic for a financial institution is where someone purchases a house with drug proceeds or criminal proceeds,. And then the bank does have to show that it acquired its interest as a bona fide purchaser for value.
Play episode from 10:59
Transcript
