That the United States and the United Kingdom have escaped censure from intergovernmental anti-money laundering (AML) groups is a sign of double standards in the international compliance community, according to Nicolas Ryder, a reader at the Bristol-based University of the West England's law school. While the United States has robust AML laws and regulations, nearly half of the global proceeds of money laundering pass through its banks, according to Ryder. And a recent U.K. report that approximately 75 percent of British banks don't sufficiently monitor their risky clients isn't a good sign for the country's embattled top banking regulator, he...
Critics of an influential organization that sets international standards on anti-money laundering and counterterrorism financing compliance are questioning whether it evaluates its members fairly.
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