Episode 19 - When Legitimate Looks Low Risk: Sovereign Wealth Funds, AML Judgement & Regulatory Scrutiny
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Episode 19 - When Legitimate Looks Low Risk: Sovereign Wealth Funds, AML Judgement & Regulatory Scrutiny
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Sovereign wealth funds and state-linked structures are often perceived as low risk because they carry an assumption of legitimacy. But how should firms assess these relationships in practice?
In this episode, Michelle Clement is joined by Colin Solomon to explore the lessons arising from the Jersey v LGL Trustees Ltd re Angola case, and what it reveals about risk classification, onboarding assumptions, professional judgement, and regulatory scrutiny.
Together, they discuss how perceptions of legitimacy can influence decision-making, what regulators look for when reviewing files in hindsight, and how firms can ensure their risk assessments and rationale stand up to scrutiny.
Colin has also prepared a summary of the case and regulatory findings. If you would like a copy, you can connect with him on LinkedIn: https://www.linkedin.com/in/colin-solomon-07102613/.