News

Legislation first adopted two years ago to counteract the de-risking phenomenon in Belgium only to be shelved over an administrative technicality has again met with delay, with lawmakers postponing consideration of an updated bill until at least September. Now in its 10th year, the widespread tendency of banks to avoid, or de-risk, entire categories of clients and thus shield themselves from stronger anti-money laundering enforcement, protect their critical correspondent links and avoid the damage that even comparatively small fines can exact on them, both reputationally and practically, has yet to abate. De-risking's impact in Belgium has mostly fallen on businesses...