By now, the term "risk-based approach" is a familiar catch phrase to compliance officers. Groups like the Financial Action Task Force advocate it and section 326 of the USA PATRIOT requires it for customer identification. But, how do you tackle risk? One way is by looking at the likelihood of a country falling into political conflict or the prevalence of corruption – this may help you determine whether to drop a correspondent account or decide not to do business with customers from that country. The site www.countryrisk.com helps you with these decisions. It provides over 85 links to sites that...
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