User Rating: 5 / 5
The International Monetary Fund (IMF) has published a Working Paper entitled Loss of Correspondent Banking Relationships in the Caribbean:Trends, Impact and Policy Options. It is an outstanding study on the current situation in the Caribbean, and it is recommended reading for all North American compliance officers.
The primary reason cited for "de-risking" is AML/CFT compliance, and this blog has repeatedly opined that only KYCC, or Know Your Customers' Customers, programs will adequately address the valid concerns of onshore US, Canadian and EU banks. You are referred to our prior coverage of this issue for further information.
Readers who wish to review the complete text can access it here.
The primary reason cited for "de-risking" is AML/CFT compliance, and this blog has repeatedly opined that only KYCC, or Know Your Customers' Customers, programs will adequately address the valid concerns of onshore US, Canadian and EU banks. You are referred to our prior coverage of this issue for further information.
Readers who wish to review the complete text can access it here.
CHRONICLES OF MONTE FRISKER - FINANCIAL CRIME ANALYST
CONTRIBUTED BY KENNETH RIJOCK - FINANCIAL CRIME CONSULTANT
