Legal risk data
for counterparty
and asset due diligence

quick search
search open resources

How LEGALLY TOXIC helps you stay out of risk

LegallyToxic.com hosts data on risks relating to individuals, organizations and assets.

This service was originally launched to assist parties in litigation and crime victims to disseminate notices preventing stolen assets from being purchased with clean title. There is no ‘innocent purchaser for value’ defense if the criminal origin of the disputed assets was publicly known at the time of purchase.

LegallyToxic is now a universal risk checking platform. It provides access to a constantly updated database and a wealth of material posted by members.

Assets

LegallyToxic hosts a database of assets – real estate, vessels, corporate participations, art objects etc. for which legal issues presenting a risk for the potential purchaser have been identified.

Legal issues identified

LegallyToxic identifies:

  • property subject to title disputes (litigation / pending litigation)
  • assets which may, depending on the outcome of criminal proceedings, be determined to be proceeds of crime (e.g. stolen / embezzled assets) or property into which proceeds of crime were converted (e.g. assets purchased with stolen funds or bribe / kickback money).

Organizations and individuals with risky origin of funds

LegallyToxic lists organizations and individuals with risky origin of funds, such as:

  • persons on national and international sanctions lists and their known ‘fronts’ and associated service firms and professionals;
  • individuals being probed for financial crime plus entities controlled by such persons;
  • persons reported to be linked to crime organizations (including terror and extremist groups);
  • public officials (irrespective of whether they fall under the narrow definition of a ‘politically exposed person’) reported to be illegally benefitting from their public position (bribery / kickbacks / forced shares in business etc.);
  • financial organizations and professional services companies known to be specializing in doing business with high-risk clients.

Handling funds and assets originating from such persons presents a compliance challenge for regulated organizations, such as banks and asset managers.

For those entities which are not subject to anti-money laundering (AML) regulation (e.g. trading companies) dealing with such individuals and entities may carry reputational risks, risks of involvement in litigation (e.g. by crime victims recovering assets purchased with proceeds of fraud) and risks of asset forfeiture/seizure as a result of criminal proceedings.

Membership provides additional benefits

Legal Risks Explained

  • How LEGALLY TOXIC helps you stay out of risk

    LegallyToxic.com hosts data on risks relating to individuals, organizations and assets.

    This service was originally launched to assist parties in litigation and crime victims to disseminate notices preventing stolen assets from being purchased with clean title. There is no 'innocent purchaser for value' defense if the criminal origin of the disputed assets was publicly known at the time of purchase.

  • Balance of Interests in Publicizing Risk

    Maintaing safety of international commerce and financial services from risks presented by illegal assets and other criminal abuse is undoubtedly in the public interest. It is thus in the public interest to highlight specific risks relating to assets and individuals. The role of LegallyToxic is to enable anyone dealing with highlighted assets and persons to make extra checks and stay safe.

  • Types of notices published at LegallyToxic.com

    At LegallyToxic.com you may announce: Individuals or entities which may be handling proceeds of crime (source of funds risk); Financial services organizations and other professional businesses known to be specializing in dealing with high-risk clients ...

  • Legal Risks Of Acquiring Crime-Tainted Assets

    A great deal of assets traded for business or personal use carry a hidden risk of being one day revealed to be of a criminal origin. A penthouse in New York bought with corruption money, a mining business in a developing country taken from original owner by intimidation and corrupt justice, a corporate asset embezzled against the will of the shareholders: examples are many.

  • Liability of the corporate service provider whose client company was used for an illegal purpose

    When doing asset tracing and recovery work we frequently have to deal with offshore service providers whose companies were used for asset laundering, concealment of control in the course of the crime or other assistance essential to the completion of the criminal act which we are trying to unravel.

Send abuse