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An agent of a wealthy individual from a high-risk country (as per the EU's high-risk jurisdictions list) approaches a notary in an EU country to dispose of assets recently acquired at an auction through an offshore company. The agent holds power of attorney from a law firm in another EU country. The transfer price is significantly lower than the auction price, but the agent refuses to explain the discrepancy. Which red flags should the notary consider? (Select Two.)
Correct Answer: A,D
The real estate sector is a known avenue for money laundering, and this scenario presents multiple red flags. Option A (Correct): High-risk jurisdictions are associated with corruption and financial crime, making transactions involving their citizens higher risk. Option D (Correct): Selling assets below market value is a common tactic to disguise illicit funds or transfer value illicitly. Option B (Incorrect): While cross-border legal representation may raise questions, it is not inherently suspicious. Option C (Incorrect): Offshore companies are common in tax planning, though they require further scrutiny.