DERISKING CONTINUES, ALTHOUGH AML BODIES ARE PRESSING BANKS TO BE MORE CAUTIOUS
March 1st, 2017
THE DE-RISKING by major banks through cancelling correspondent banking relationships (CBRs) has started to raise such alarm that anti-money laundering institutions are starting to advise against such caution.
"There has been international pressure to make banks think twice about turning down customers and not just have blanket bans on certain jurisdictions or certain types of institutions," said Sarah Ouarbya, partner in Mazars, one of the UK's largest accountancy firms and an international specialist in audit, tax and advisory services. ...
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