• Products

    PRODUCTS

    • Verify Client KYC, AML & ID verification made easy
    • Pay Secure online and app payment processing solutions
    • Market Intelligence Geographical visualisation for driving informed decisions
    • Integration Seamless CRM & CMS system integrations
  • Solutions

    USE CASES

    • Customer Onboarding Improve your customer onboarding journey
    • Collect Customer Payments collect customer payments online, and within mobile apps.

    INDUSTRIES

    • Law Firm Onboarding Reduce client onboarding and due diligence time by 80%.
    • Automotive Onboarding KYC & AML compliance solutions for car dealerships.
    • Conveyancing Onboarding Conveyancing solutions for property transactions.
    • Estate Agent Onboarding Reduce estate agent workload due diligence time by 80%.
  • Pricing
  • Resources
Log in
Get Started
Blog

Preventing accidental money mule activities in client onboarding

January 23, 2024 Checkboard Team

Regulated businesses like ours should stay vigilant against inadvertent involvement in money laundering activities, particularly with accidental money mules, due to the ever-evolving nature of the financial landscape.

This vigilance is essential to maintaining compliance with regulatory requirements, upholding the integrity of our operations, and safeguarding our reputation. Additionally, detecting and preventing such activities helps contribute to the broader efforts of combating financial crime, ensuring a secure financial environment for both the business and its stakeholders.

Understanding the risk of accidental money mules

These individuals, often unwittingly ensnared in money laundering activities, become conduits for the illicit transfer of funds through deceptive means. This includes falling victim to misleading job offers that promise substantial returns for minimal effort, often requiring the use of personal or business bank accounts for transactions.

Overpayment scams represent another avenue, wherein businesses receive fraudulent payments with requests to transfer excess funds to other destinations. Manipulative relationships are also exploited by scammers who establish trust before leveraging businesses to facilitate illegal money transfers. Recognising and addressing these risks is paramount in safeguarding our business against inadvertent involvement in illicit financial activities.

The role of Checkboard in mitigating risks

At Checkboard, we understand the importance of thorough due diligence in client onboarding. Our sophisticated source of funds checks play a pivotal role:

  • Early detection: We employ advanced analytics to identify irregular transaction patterns and potential red flags.

  • Comprehensive verification: Our system rigorously verifies the origins and legitimacy of funds, safeguarding against illicit activities.

  • Continuous monitoring: We provide ongoing monitoring and alerts for any suspicious activity, enabling proactive measures.

Your role in protecting your business is pivotal in maintaining a resilient financial environment. It involves exercising diligence in the vetting of new clients, particularly in high-risk transactions. Additionally, educating your staff about the signs of money mule schemes and emphasising the importance of reporting suspicious activities enhances the overall vigilance of your business against potential threats

By working with Checkboard, you can fortify your defences against all kinds of criminal threats. Just get in touch with us now to find out how.

  • AML
  • source of funds

Post navigation

Previous
Next

Search

Tags

AML conveyancing estate agents fraud ID verification KYC payments safe harbour source of funds technology

Related posts

Case Studies

How Harris & Harris streamlined its compliance

April 30, 2025 Checkboard Team

CASE STUDY Harris & Harris: Elevating Compliance and Efficiency with Checkboard About Harris & Harris Harris & Harris is a highly respected legal firm, known for its dedication to excellence in client care, staff development, and risk management. It holds the internationally recognised Lexcel Quality Mark since 2004 and became one of the first to […]

HMRC sets many of the regulations estate agents must follow.
Blog

AML compliance prevents hefty HMRC fines

May 9, 2024 Checkboard Team

In the property market, ensuring compliance with anti-money laundering (AML) regulations is crucial for estate agents. The £1.6 million fines imposed by HMRC recently have further highlighted the necessity of being compliant within the industry.  How can estate agents stay AML compliant? AML regulations are designed to prevent the real estate sector from being used as […]

Blog

Why customers choose Checkboard for secure payments

May 1, 2024 Checkboard Team

Checkboard Pay stands out due to its comprehensive, secure, and user-friendly payment solutions catering to various industries. Customers are drawn to Checkboard Pay because it integrates advanced security measures, such as PCI DSS compliance and encryption, with ease of use. This integration ensures that all transactions are secure while maintaining a seamless user experience. Additionally, […]

Checkboard Limited is authorised and regulated by the Financial Conduct Authority (FCA) under firm reference number 950508. If you have a complaint that we cannot resolve, it may be eligible for consideration by the Financial Ombudsman Service (FOS). For more information, please visit the Financial OmbudsmanService website.
Checkboard App
  • About
  • Contact Us
  • Help Center
  • Climate Pledge
  • Checkboard iOS App
  • Checkboard Android App
Partners
  • Pricing
  • CRM & CMS Integrations
  • Get Started
Client Onboarding for
  • Estate Agents
  • Residential Conveyancing
  • Automotive Brands
  • Law Firms
  • Letting Agents
  • Accounting Firms
  • Auction Houses
Security & Compliance
Checkboard has been assessed and certified as meeting the requirements of ISO/IEC 27001:2022. This certification demonstrates our commitment to industry-leading information security practices. Certification applies to our information security management system (ISMS) and not to individual products or services. You can verify the validity of our ISO certificate by entering our certificate number 265514 via this link.

Checkboard Limited is authorised and regulated by the Financial Conduct Authority (FCA) under firm reference number 950508. If you have a complaint that we cannot resolve, it may be eligible for consideration by the Financial Ombudsman Service (FOS). For more information, please visit the Financial Ombudsman Service website.

Checkboard App
  • About
  • Contact Us
  • Help Center
  • Climate Pledge
  • Checkboard iOS App
  • Checkboard Android App
Partners
  • Pricing
  • CRM & CMS Integrations
  • Get Started
Client Onboarding for
  • Estate Agents
  • Residential Conveyancing
  • Automotive Brands
  • Law Firms
  • Letting Agents
  • Accounting Firms
  • Auction Houses
Security & Compliance
Checkboard has been assessed and certified as meeting the requirements of ISO/IEC 27001:2022. This certification demonstrates our commitment to industry-leading information security practices. Certification applies to our information security management system (ISMS) and not to individual products or services. You can verify the validity of our ISO certificate by entering our certificate number 265514 via this link.

© 2025 Checkboard Limited

  • Terms & Conditions
  • Privacy Policy
  • Cookie Policy