Big Frauds
Big Frauds

High-net-worth clients can be high-risk clients

By Brett Erickson, CFE, CGSS, WMCP
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Written by: Brett Erickson, CFE, CGSS, WMCP
Date: June 16, 2025
Read Time: 9 Mins
Anti-Fraud Laws Regulations and Compliance Financial Institution Fraud Money Laundering Banking and Financial Services

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. 

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