The Financial Crimes Enforcement Network today issued a final rule imposing a fifth special measure against Iran as a jurisdiction of primary money laundering concern under Section 311 of the USA Patriot Act.
The Basel, Switzerland-based Financial Stability Board published a progress report today on steps taken in response to a decline in the number of worldwide correspondent banking relationships.
Kristie Holoch’s bank is not just in the business of serving farmers, families and small businesses in the 33 Nebraska towns where it has branches — it also serves its fellow Nebraska community banks.
As part of its efforts to address the significant decline in global correspondent banking relationships since 2011, BAFT today released a “Respondent’s Playbook” that provides guidance on how to establish new correspondent relationships, review existing ones and increase the likelihood of a favorable outcome.
The European Commission today issued its own list of 23 jurisdictions that it said have “strategic deficiencies” in their anti-money laundering and counter-terrorist financing frameworks.
BAFT — ABA’s global transaction banking subsidiary — yesterday recognized the 32 members of its Future Leaders program class of 2019. This year’s class includes bankers from 14 different countries, representing a wide variety of disciplines within the transaction banking industry.
The number of worldwide correspondent banking relationships continues to decline, according to new figures released today by the Basel, Switzerland-based Financial Stability Board.
The number of worldwide correspondent banking relationships continues to decline, according to new figures released today by the Basel, Switzerland-based Financial Stability Board.
The number of worldwide correspondent banking relationships continues to decline, according to new figures released yesterday by the Basel, Switzerland-based Financial Stability Board.
In response to the “derisking” trend in anti-money laundering and Bank Secrecy Act compliance, the OCC will soon issue guidance that articulates its expectations for banks to routinely evaluate risk in their foreign correspondent banking portfolios, Comptroller of the Currency Thomas Curry said today.