Newsflash PMLs
A Guide to Identifying Potential Professional Money Launderers
This document provides a guide to recognizing professional money launderers (PMLs), who are criminals specializing in facilitating money laundering for others. PMLs operate on an international scale and help criminals by using their expertise to navigate legal systems, obtain necessary licenses, and exploit financial and non-financial sectors. They commonly use complex methods to conceal illicit funds, making them a significant threat to service providers like lawyers, accountants, and financial institutions, who might unknowingly assist in their activities.
PMLs typically employ strategies such as establishing shell companies, using trade-based laundering techniques like fake invoices, and purchasing high-value assets like real estate or luxury goods to disguise illegal money. They might also structure transactions in ways that obscure their true nature, making it difficult for gatekeepers to identify suspicious behavior. These activities pose challenges for institutions that must be vigilant and adhere to strict due diligence practices.
