US agencies have issued a joint statement reminding banks that no customer type presents a single level of uniform risk or a particular risk profile related to money laundering, terrorist financing, or other illicit financial activity. Consequently, they say banks… Read More ›
The head of transaction banking at Standard Chartered Bank Malaysia, Wong Hooi Ching, has warned that trade-based money laundering is a massive global problem. Wong says substantial illicit funds pass through banks and financial institutions daily, through trade activities, money… Read More ›
The Financial Action Task Force (FATF) has said it will continue its efforts to determine the drivers of de-risking and lobby key international stakeholders to counter the phenomenon of financial institutions terminating or restricting business relationships rather than manage the… Read More ›