Banks are de-risking due to lack of regulatory direction
Conference hears of conflicting guidance
While regulators ramp up their warnings on the consequences of wholesale de-risking, banks are requesting clearer and more specific guidance related to anti-money laundering (AML) and counter-terrorism financing (CTF) compliance.
The lack of regulatory guidance on how to continue serving companies in high-risk countries is particularly worrying when the risks of non-compliance are so high, said Danny Sanhye, head of the financial intelligence unit for Europe at HSBC.
"There is a perception now
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