Which activities conducted by a lawyer could be a red flag for money laundering? (Select Two.)

The correct answer is A. The lawyer does not have experience in providing the particular services requested. C. The lawyer was paid substantially higher than usual fees. Lawyers who lack experience in providing specific services requested by clients or receive unusually high fees can raise red flags for money laundering. Inadequate documentation of case notes may also be suspicious, but the absence of experience and excessive fees are more…

Risks and Methods of Money Laundering and Terrorist Financing

Question

Options

AThe lawyer does not have experience in providing the particular services requested.
BThe lawyer worked unusual hours to perform case duties.
CThe lawyer was paid substantially higher than usual fees.
DThe lawyer does not document case notes for the services provided.
EThe lawyer spent two days working a case.

How the community answered

(60 responses)

A
77% (46)
B
5% (3)
D
15% (9)
E
3% (2)

Explanation

Lawyers who lack experience in providing specific services requested by clients or receive unusually high fees can raise red flags for money laundering. Inadequate documentation of case notes may also be suspicious, but the absence of experience and excessive fees are more significant indicators. These behaviors warrant further scrutiny to assess potential money laundering risks.

Topics

#professional money laundering#legal professionals#gatekeeper red flags#fee structuring

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