Brett Erickson, CFE, CGSS, WMCP
Brett Erickson is a financial crime and compliance strategist with experience in wealth management, trust oversight and institutional risk. Certifications include CAMS, CAMS-RM, CGSS, CFE, GRCP, GRCA, IRMP, WMCP, and four ICA-Specialist Certifications in financial crimes. Erickson is also an advisory board member of Loyola University-Chicago Law School’s Center for Compliance Studies.
High-net-worth clients can be high-risk clients
Know-your-customer policies should apply equally to all banking clients. However, ultra-wealthy clients sometimes escape proper scrutiny. Here, the author describes why banks might fail to conduct due diligence on ultra-high-net-worth clients and the high-stakes pitfalls of underestimating their risks.
Written By: Brett Erickson, CFE, CGSS, WMCP
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