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Definition of High Net Worth Individual?

Is there an actual definition of a High Net Worth Individual for AML purposes?

Didn't find your answer?

Is it income-based and/or asset-based and, if so, what are the minimums?

Thanks.

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Scalloway Castle
By scalloway
19th Sep 2020 13:19

https://www.gov.uk/government/publications/issue-briefing-dealing-with-t...

Those with a net worth of £20 million or more who make up the 6,200 wealthiest individuals in the UK.

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David Winch
By David Winch
19th Sep 2020 15:20

Why do you want to consider the definition of a HNWI in relation to AML?

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Replying to davidwinch:
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By Software Seeker
19th Sep 2020 19:01

davidwinch wrote:

Why do you want to consider the definition of a HNWI in relation to AML?

HNWI's should be included as a potential client-base risk in the firm wide RA, n'est pa?

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