CRMS’s crisis management advisory services framework supports businesses during challenging times by ensuring seamless communication among our Partners (Tenants), their counterparties, and third-party Sub-Tenants. Our services assist in addressing counterparty and third-party risks, identifying Ultimate Beneficial Owners (UBOs) and Politically Exposed Persons (PEPs) within complex ownership structures. This foundational transparency reduces financial crime risks across sectors, providing clear insights into the nature of business relationships.
Preventative Measures: Law Firm Involved in Money Laundering Attempt Using Bank Accounts
CRMS, through an EDD approach, identifies the material impact of high-value transactions involving potential fraud. In one case, a counterparty submitted falsified documentation suggesting substantial liquidity, including forged bank statements. CRMS’s crisis management service uncovered discrepancies in the financial instruments provided, such as unverifiable letters of credit and counterfeit banking records.
Through our Level 2-3 enhanced due diligence (EDD), CRMS can uncover if any documents are tied to accounts in jurisdictions known for money laundering activities. CRMS can prevent such transactions, generate an STR alert to the authorities to fraudulent activity, and avoid legal and financial repercussions. This process underscores the importance of detecting money laundering attempts through sophisticated bank account activity and financial documentation monitoring.
