Vehicle Sellers

Cars and other vehicles (aircraft, helicopters, yachts) are susceptible to money laundering for four reasons:

  • You can often make multiple part payments, allowing you to structure a cash deposit

  • You can downgrade your vehicle, and accept the difference in a cheque made out to a third party (or yourself) which represents clean money, or a layering technique

  • Dealers will accept third party payments for the vehicle (layering technique)

  • Trading multiple vehicles, which creates complex layers of transactions

Next Topic: Gatekeepers: Accountants, Auditors, Lawyers, Notaries, Company Formation Agents

Previous Topic: Travel Agencies

Get the Book & Pass First Time!

Includes all the study notes, the mock exam and detailed explainations of the answers

Get the AML Book & Pass First Time - Instant PDF Download