Don’t trust before you verify. While advisors feel good any time a prospective client walks through the door, a small fraction of potential customers may have earned their money illegitimately. Some may be trying to launder proceeds from criminal enterprises such as drug-trafficking and racketeering, and the Bank Secrecy Act requires many wealth managers to set up procedures to detect such transactions and, potentially, to alert law enforcement. Bad actors “are definitely finding better ways to navigate ...