Investor Entity Types
Richard believes this type of "publicly-serving" investor should be inherently considered High-risk (they are currently considered Medium)
What is a Non-Profit?
The three stages of money laundering
What are Placement, Layering, and Integration?
This Columbian drug kingpin had so much money, he couldn't launder it all. Instead, he would sometimes use it as fuel for a fire.
Who is Pablo Escobar?
This type of individual can make investment decisions and sign/execute documents for a number of investor types, including private corporations and non-profits
What is a controlling person?
Someone in breach of the law might have to pay one of these, and it could also be the response they give when told they have to pay it
What is fine?
'US Entity Copy of IRS Letter OR IRS Form 5500' are specific to this type of investor
What is an ERISA Plan?
This type of company is "without significant assets or operations", and typically has a couple employees at most
What is a Shell Company?
This 1920's Chicago mob legend funneled illegal bootlegging and gambling profits through a chain of cash-heavy laundromats
Who is Al Capone?
This type of individual shares an account with another, and has rights of survivorship if the other individual on the account passes away
What is a joint tenant (with rights of survivorship)?
You could really whip something up in this part of a house, but be sure not to hit the ball out of the air here on the pickleball court
What is the kitchen?
'Documented website research or alternative informational source evidencing the investor is a department or agency of an approved jurisdiction or apolitical subdivision of such a jurisdiction' is specific to these two types of investor
What are government agencies and government pensions?
This type of currency is often used by drug cartels to exchange their illegal U.S. dollars into their home currency
What are Pesos?
This founder of the crypto exchange FTX was sentenced to 25 years in prison in 2024 for a multi-billion dollar fraud that involved funneling customer funds between its exchange and a hedge fund.
Who is Sam Bankman-Fried?
This type of individual is the furthest down the chain of an entity's ownership, and represents their true possessor
What is an ultimate beneficial owner?
You might accidentally do this to a bike or pedestrian in your car, or you might use this feature to capture a short video from your favorite Twitch streamer
What is clip?
'Copy of Formation Document', 'Copy of Organizational Structure Chart', and 'Documented confirmation of valid ticker symbol' are specific to this type of investor
What are publicly-traded subsidiaries?
This AML Organization adopted 40 recommendations (that are regularly updated) in 1990 to combat illicit financial flows
What is the Financial Action Task Force (FATF)?
This American financier is infamous for running the biggest Ponzi scheme of all time, to the tune of $65 billion
Who is Bernie Madoff?
We only collect AML for this type of trust party if they have the ability to add/remove trustees
What is a Protector?
You might do this to your hair, or to a series of documents that you're trying to gain information from
What is comb?
'Identity of Sponsoring Entity' is specific to this type of investor
What is a Self-Directed Pension?
A customer breaking up a $12,000 cash deposit into 3 separate $4,000 deposits to avoid a CTR being filed is this type of practice.
What is structuring?
This Houston-based energy company famously filed for Chapter 11 bankruptcy in 2001 after it was revealed that the firm was hiding massive accounting fraud and used shell companies to obfuscate billions of dollars in hidden debt
What is Enron?
This individual(s) establishes a foreign foundation, endows it with its initial assets, and defines its long-term purpose
What is a Founder?
This 'shrewd and knavish' Shakespearean character could also be made of vulcanized rubber
What is puck?