How to Spot Money Laundering

Money laundering continues to plague financial systems all over the world. In the UK alone, it comes at a cost of 7 billion pounds to the country annually and is something that urgently requires cracking down on.

If you own a business, it is particularly important that you are alert to the signs of money laundering and know how to report it if you are suspicious that something isn’t quite legit. There are training courses available that can help businesses with this, as well as companies who have an expertise in this and can provide services to help you such as this know your customer service from W2 Global Data.

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Money laundering can be difficult to spot, as criminals will of course go out of their way to make it that way. But here are a few things to look out for…

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Big deposits – Large bank balances and deposits that have no easy explanation as to how the funds were obtained. Some money launderers are caught when they are living a lavish lifestyle, yet apparently have a very low income or are not seemingly employed.


Defensiveness – If someone is defensive when challenged on reasonable financial questions, or is being evasive about it, this is also cause for concern and a sign that they could be hiding something.


Unusual Financial Activity – Complicated financial transactions and unusual ways of moving money around can be a warning sign that they are hiding something financially.