Which money laundering risks are posed by the misuse of trust and asset management services? (Select Three.)

The correct answer is A. Concealing sources of funds C. Adding a layer of anonymity to transactions D. Concealing true legal and beneficial owners. "Trust and asset management services can facilitate the concealment of the source of funds (A), provide a layer of anonymity to transactions (C), and obscure the true legal and beneficial owners (D). These are well-established ML/TF risks in the private wealth sector."

Risks and Methods of Money Laundering and Terrorist Financing

Question

Options

AConcealing sources of funds
BAllowing for third-party custody safekeeping of funds
CAdding a layer of anonymity to transactions
DConcealing true legal and beneficial owners
EEstablishing escrow accounts for real estate transactions

How the community answered

(23 responses)

A
70% (16)
B
22% (5)
E
9% (2)

Explanation

"Trust and asset management services can facilitate the concealment of the source of funds (A), provide a layer of anonymity to transactions (C), and obscure the true legal and beneficial owners (D). These are well-established ML/TF risks in the private wealth sector."

Topics

#trust services#asset management#beneficial ownership#anonymity layers

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