Financial Regulatory Forum

CORRECTED: Bank regulators globally add AML to safety and soundness issues

By Guest Contributor
July 8, 2013

By Nick Paraskeva, for Compliance Complete

NEW YORK, July 8 (Thomson Reuters Accelus) -¬†Bank regulators around the globe are increasingly focusing on anti-money laundering (AML) and operational risks as part of their role in overseeing institutional safety and soundness. This follows huge enforcement fines imposed on systemically important banks by regulators and justice ministries. It also reflects a concern that any attendant hit on a bank’s reputation could affect its ability to obtain short-term funding or trade other than on a fully-secured basis.

Retraction of global correspondent banking networks challenges financial-crime risk management

By Guest Contributor
July 2, 2013

By Kim R. Manchester, Contributing author for Compliance Complete

NEW YORK, July 2 (Thomson Reuters Accelus) - Global correspondent banks have faced numerous challenges since the onset of the financial crisis in 2008, including heavy scrutiny by regulators on money-laundering and terrorism-financing defenses, shrinking transaction volumes, slashed profit margins and risk parameters that defy rational measurement. A Financial Times report on how global correspondent banks are clawing back the reach of their correspondent banking network operations and trimming respondent banks from their client lists comes as no surprise to the casual observer of international banking.

U.S. financial institutions seen lacking anti-corruption policies for domestic politicians

By Guest Contributor
March 7, 2012

By Brett Wolf

ST. LOUIS/NEW YORK, March 7 (Thomson Reuters Accelus) – Despite an international push for financial institutions to crack down on corruption and money laundering linked to political figures, it remains unclear how firms in the United States and abroad will respond.