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Bank of America Tells Clients from Blacklisted Nations to Turn Over More Records
By ACAMS moneylaundering.com
printBank of America is asking clients from four blacklisted nations to submit additional identification documents and prove that they permanently reside outside of their home countries, ACAMS moneylaundering.com has learned. Under a policy change formalized by the bank in the spring and implemented as late as this month, nationals of Syria, Iran, Cuba and Sudan who want to open new accounts or maintain existing relationships with the bank must send the documents or risk having their accounts restricted, according to documents and multiple sources. In a letter sent earlier this month, Bank of America asked one client to fax, mail...
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