Top Warning Signs of Money Laundering

Identifying signs of money laundering is challenging. Ordinary people hardly spot the symptoms of financial fraud and money laundering. The blogpost highlights the top signs of money laundering.

If you are the victim of money laundering, hire a money laundering lawyer in Perth.

Common Warning Signs

• Unusual and secretive clients

It is vital that you make wise and fully-informed decisions about prospective clients and new types of businesses from both new and current clients.

To evaluate the risk imposed by other clients, you must understand why they select your firm.

• Why a client living distant from your company contacting you that has no geographic connection to your company?
  
• Why a client teaching you about the field or work you have no experience?
  
• Why are foreign residents instructing your company when you lack connection in that country?

If a client dismisses you and avoid answering your question or provide information about themselves, you must get alert.

Find a Money Laundering Lawyer in Perth to help you in the financial fraud cases.

Unusual transactions

Clients trying to clean funds will conduct unusual transactions. The transaction might be unusual for:

• Your Company
• Understanding of a client in their stature
• The kind of retainer you’re holding

Unusual Source of Funds

A heap of cash or private funding stored in a bank account is a red flag or a warning sign of a money laundering.

You must also think about how the client gets this amount of private funding and whether you knew about it or not. Check documentary evidence, like:

Bank Statements

Recently business accounts

Documents showcasing the source, like a sale of a house or shares

Consider all these warning signs and try to be alert. If you think there is any criminal offence going on with your finance, hire Criminal Lawyers in Perth.