User Rating: 4 / 5
FCA PAPER ON DE-RISKING PROVIDES GUIDANCE
The closure of bank accounts, in the UK, by financial institutions concerned with their AML exposure, regarding customers that they perceive are high-risk, has been addressed by the Financial Conduct Authority (FCA), in an annotated treatment that deserves attention. Money service businesses, pawnbrokers, and charities located in certain geographic areas have found themselves having their accounts closed, as banks seek to reduce AML risk.
Readers who wish to review the material, FCA Research into the Area of De-Risking, can access the complete text here.
