5.5 Trust and company service providers

Transcript

This add-on is for trust and company service providers. Here's how AML/CTF applies to you. Designated services include forming companies and trusts, acting as or arranging a nominee director, shareholder or trustee, providing a registered office or business address, and selling shelf companies. Watch for red flags: clients who want a nominee to hide who's really in control, layered structures across countries, reluctance to explain the purpose, and requests to move quickly. Focus on lessons 2.3 and 3.4, and take extra care with beneficial owners and anyone acting as a nominee. Quick recap. Forming entities, nominee roles, registered addresses and shelf companies are designated services. Look through nominees to the real controllers. Watch for hidden control, cross-border layers and rushed requests. That's your industry add-on. Revisit any core lesson anytime.