If a client refuses or fails to provide essential documents for identity verification or proof of funds, AML regulations require that you must not proceed with the transaction. Such situations raise red flags about potential money laundering risks.
You should politely explain your regulatory obligations to the client, providing clear information about why the documentation is necessary. Maintaining professional integrity and adherence to regulations protects your business and ensures compliance with the law.
Private escrow accounts provide security, trust and transparency to ongoing or ad-hoc payment requirements.
Third-Party Managed Accounts (TPMA's) are a convenient way to manage complex, high-value or even routine payment operations.
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