Pooled Client Accounts: the final answer?

John Binns(+44 (0)20 7430 2277,jbinns@bcl.com) is a partner and specialist in money laundering and financial crime at BCL Solicitors LLP in London.

When a business in the regulated sector provides a pooled client account (PCA) for a customer, how much due diligence must it do on the customer’s customers to address money-laundering and terrorist-financing risks? John Binns of BCL Solicitors considers.