What is the red flag in AML?
While conducting anti-money laundering (AML) processes, businesses may come across red flags that indicate potential money laundering, terrorism financing or proliferation financing risks. These red flags include the following:
- When the customer is uncooperative or secretive
- When transactions involve large amounts of cash
- When customers provide instructions through third parties
- When transactions don’t match the economic profile of the customer
- And many more!
To understand AML red flags in detail, read our blog here: