US EditionDNB warns institutions that third-party payments are used as money laundering method
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Financial services: Regulation tomorrow
Financial services: Regulation tomorrowDNB warns institutions that third-party payments are used as money laundering method
Third-party payments involve invoices paid by entities or individuals that are not the original parties to the agreement. While there may be legitimate reasons for such arrangements, third-party payments are also sometimes used to obscure the origin of funds or to conceal the involvement of certain parties. As such, they present a potential method for money laundering. Accepting payments from third parties carries risks and can expose recipients…
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