How does money laundering harm your business?
- Purchasing and selling property belonging to business entities.
- Creating, operating, or managing trusts, companies, or foundations.
- Managing contributions used to create or operate a company.
- Overseeing the management of assets or money on behalf of clients.
- Opening and managing various accounts (current, savings, securities) on behalf of clients.
Warning signs of money laundering
- The other party is insistent on only using cash or multiple payment formats.
- They involve a third party in the payment process.
- The purchase price is either extremely high (overvalued) or extremely cheap.
- The other company’s ownership or how they conduct their transactions suddenly changes.