Correspondent accounts & “risk revaluation”
11 Apr 2017

One reason major banks are pruning their correspondent relationships may be that so many are under enforcement actions – deferred prosecution agreements (DPAs) and consent orders, some stretching back years, perhaps even already extended – their risk appetite has reduced lest they find themselves in the firing line again, this time (and possibly not the first) for inadvertently handling criminal proceeds of a customer’s customer.

 

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