- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
The Financial Conduct Authority warns that banks should rethink their anti-money laundering strategies in light of reports that financial institutions have nixed services to customers that may pose potential money-laundering risks. The agency says, “These policies and procedures must be comprehensive and proportionate to the nature, scale, and complexity of ...
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In an ironic twist, regulation designed to protect the global financial system is forcing whole regions outside the regulated financial system, creating more risk for everyone.
Image: Money service businesses, bitcoin startups, marijuana shops; the population of high-risk customers in the banking world is surging. Regulators have sent conflicting messages about wholesale de-risking of certain sectors, and that can force painful questions about how to build effective, and extensive, due diligence programs. “Regulators are talking from ...
Eight business executives, including the billionaire owner of Indian energy company Adani Group, were charged with fraud for their alleged roles in a multi-million bribery scheme to win a solar energy contract in India.
