Some thoughts for private banks

Under the heading of “customer risk factors” it lists:

·        business relationships conducted in unusual circumstances, perhaps when there is a significant and unexplained geographical distance between the financial institution and the customer;

·        non-resident customers;

·        legal persons or arrangements that are personal asset-holding vehicles;

·        companies that have nominee shareholders or shares in bearer form;

·        cash-intensive businesses; and

·        unusual or excessively complex ownership structures.