CHINA BECOMING ASIA’S ANTI-FRAUD BANKING GATEKEEPER
May 1st, 2017
Evidence is growing that China is taking on a growing role as an anti-fraud gatekeeper for the banking sector – with its banks increasing the number of correspondent relationships they have with foreign financial institutions. The new role comes as US and European banks, faced tougher regulations on ensuring their clients are not tainted by crime and terrorism, are derisking their relations with foreign banks and abandoning correspondent agreements. The latest report from global financial compliance company Accuity showed that derisking means correspondent ...
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