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Needless “de-risking” might increase AML risk, said global advisory firm

Financial institutions may have been performing ‘de-risking’ actions that are ineffective in reducing money laundering risks but instead encouraged clients to create more complicated relationships that expose banks to greater danger in illicit fund transactions, according to a global compliance survey. The result may mean an increase in the AML and sanctions risks they face, as customers seek other avenues to…

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