Professional service providers—including lawyers, accountants, investment brokers, and other third parties—may abuse their positions to...

Professional service providers can be misused as enablers of money laundering when they abuse their trusted positions and expertise. FATF guidance highlights several risks linked to such abuse.

The creation of shell companies is a common method used to obscure beneficial ownership and facilitate placement or layering of illicit funds. Similarly, opening third-party accounts to mask the true client identity directly undermines transparency and due diligence requirements.

Additionally, actively directing or facilitating the structuring or movement of illicit funds constitutes direct involvement in money laundering schemes and is a serious criminal offense.

By contrast, opening estate or trust accounts for legitimate, transparent purposes does not inherently pose a financial crime risk when proper due diligence is applied.