Financial Crime Financial Crime

Required risk-assessments would help banks fight money laundering, US FinCEN official says

By Robert Thomason
  • 29 Sep 2020 14:35
  • 29 Sep 2020 14:35
Requiring banks to conduct money-laundering risk assessments would help financial institutions provide better information to regulators, a US Financial Crimes Enforcement Network official said today.

"We don't require a risk assessment," Noah Bishoff, director of FinCEN's stakeholder integration and engagement, said during a webinar*.  "It is not a specific, explicit regulatory requirement currently,"

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