Sanitised case 13
A TCB made a STR following internet research and lack of due diligence. The client had been involved in a high profile court case in Europe, which involved accepting ‘bribes’ or ‘commissions’ for taking on business without asking any questions. A Trust structure was formed in Jersey which was structured to conceal the original source of funds and as a money laundering conduit. Some time later the Trust structure was then restructured to disguise the original beneficiary and Settlor of the funds and therefore eventually attaining the essential disconnection.