high value goods
RiskScreen is utilised by dozens of auction houses, yacht-brokerages and precious metals dealers throughout the world to screen vendors and buyers.
High value goods including cars, yachts, precious stones, jewellery and even in some cases high value designer items such as $25,000+ handbags can be used to launder criminal money.
The methodology is very simple. Using illicit funds a criminal purchases a high value item and then sells it on in consideration for a transfer of money to a bank account. In so doing he has converted cash into an asset and then into money in the banking system and given himself a legitimate source of funds.
Our screening technologies help dealers in high value goods to achieve optimal financial crime compliance performance with maximum efficiency.