This paper discusses issues beyond KYC as we know it to mean ‘’Know Your Customer. We also investigate three criminal activities that either facilitate or lead to money laundering and involve seemingly normal business activities – Trade-Based Money Laundering, Missing Trader Intra-Community (VAT fraud) and Human Trafficking. We then spend some time demonstrating how a risk-based approach to KYC can free up compliance resources to focus on these areas.

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KYC, Knowing the AML threat behind the customer, 2013

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