The Core Definition A Money Laundering Red Flag is a specific behavior, transaction pattern, or client characteristic that suggests funds may be illicit. While a single red flag does not prove a crime, a cluster of red flags (e.g., a…
The Core Definition Know Your Customer (KYC) is the mandatory process of verifying the identity of an individual client to prevent money laundering and fraud. Know Your Business (KYB) is the due diligence process of verifying a corporate entity’s legal…
Politically Exposed Persons (PEPs) play an important role in global finance, governance, and public administration. Because of their influence and access to public funds, they may pose a higher risk for involvement in bribery, corruption, or financial crime. This is…