Financial Crime Financial Crime

EU bank customers shut out by overzealous laundering norms need redress, EBA says

By Jack Schickler
  • 05 Jan 2022 09:34
  • 05 Jan 2022 09:34
Bank customers refused accounts on money laundering grounds should be given new redress procedures, the European Banking Authority has said, as it seeks to stop the “derisking” practices that may cut diamond traders and electronic money providers out of the financial system altogether. 

Regulators worry that ambiguity and an overzealous interpretation of existing

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