1️⃣ What is Money Laundering?

Money laundering is the process of making illegally obtained money appear legitimate. It usually happens in three stages:

1. Placement – Introducing illegal money into the system

2. Layering – Moving money through multiple transactions to hide its origin

3. Integration – Reintroducing the money as “clean” funds

Non-financial businesses are often used in the placement and integration stages.

2️⃣ Which Non-Financial Businesses Are Covered Under AML?

These are often called DNFBPs (Designated Non-Financial Businesses and Professions):

✔ Real Estate Agents

Property purchases are commonly used to launder large amounts of money.

✔ Lawyers & Notaries

Especially when handling:

• Client funds

• Company formation

• Property transactions

✔ Accountants

Can unknowingly help structure transactions to hide funds.

✔ Company Formation Agents

Used to create shell companies.

✔ Casinos & Gaming Businesses

Cash-heavy operations are high risk.

✔ Dealers in High-Value Goods

• Luxury cars

• Jewelry

• Art

• Precious metals

• High-end electronics

✔ Trust & Company Service Providers