Adjusting Risk Matrices to Enter Markets Can Be Daunting AML Task, Say Consultants

By Brian Monroe

Libya, once at the top of U.S. economic sanctions lists, is now making payments for peace. Russia, the former archenemy of the United States, is today its tense ally. China, perceived as a corrupt communist stronghold, has seen U.S. banks pay billions for entr?©e into the lucrative Asian market. When a country is finally free of U.S. watch lists, or improves its standing with the international community, financial institutions are faced with the task of scaling back their risk profiles. The payoffs for getting a footprint in an emerging but once off-limits market can be big, particularly if other business...