A High Net-Worth Individual (HNWI) is a person with significant financial assets, typically defined as having at least $1 million in liquid assets, excluding real estate. HNWIs often require specialised financial services, such as wealth management, tax planning, and investment advice, due to the complexity and scale of their portfolios. 

In the financial crime compliance space, HNWIs are considered high-risk customers, as large amounts of wealth can be linked to money laundering, tax evasion, or other illicit financial activities. Financial institutions must conduct enhanced due diligence (EDD) when dealing with HNWIs, ensuring their wealth is legally sourced and monitoring for suspicious transactions. Understanding the source of wealth, screening for politically exposed persons (PEPs), and monitoring international transfers are crucial steps to ensure compliance with Anti-Money Laundering (AML) regulations and to mitigate financial crime risks when dealing with HNWIs.