Financial Crime Financial Crime

Banks face problems determining beneficial owners when checking for financial crime risk, ex-Treasury official says

By Robert Thomason
  • 09 Sep 2020 17:47
  • 09 Sep 2020 17:47
Banks reviewing customers to detect risk of sanctions and financial crime face problems because there’s no global standard for beneficial ownership thresholds, said a former US Treasury official.

Although US sanction rules block transactions of firms that are more than 50 percent owned by people or firms noted for corruption and other financial

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