CAMS · Question #784
Which services provided by an accounting firm could be considered as higher risk from a financial crime perspective? (Choose three.)
The correct answer is A. Forming a trust on behalf of a customer with a complex setup and acting as a nominee director D. Providing tax advice to an international customer hoping to move their assets out of their home E. Assisting an offshore corporation from a jurisdiction with no available beneficial owner information. Forming complex trust structures and acting as a nominee director, providing tax advice to clients moving assets across borders, and assisting offshore entities from opaque jurisdictions in acquiring property are all higher-risk services. These activities may facilitate…
Question
Which services provided by an accounting firm could be considered as higher risk from a financial crime perspective? (Choose three.)
Options
- AForming a trust on behalf of a customer with a complex setup and acting as a nominee director
- BAuditing a firm that provides payroll software to large corporate customers
- CPreparing financial statements for a listed or a privately owned firm
- DProviding tax advice to an international customer hoping to move their assets out of their home
- EAssisting an offshore corporation from a jurisdiction with no available beneficial owner information
How the community answered
(54 responses)- A80% (43)
- B7% (4)
- C13% (7)
Explanation
Forming complex trust structures and acting as a nominee director, providing tax advice to clients moving assets across borders, and assisting offshore entities from opaque jurisdictions in acquiring property are all higher-risk services. These activities may facilitate concealment of beneficial ownership, asset flight, or the integration of illicit funds into legitimate systems.
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