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Financial Institutions Should Improve Their KYC, Says Transparency International Official

Global corruption is antithetical to economic growth, according to Transparency International, an organization known for its yearly publication of the Corruption Perceptions Index, which ranks 180 countries by their levels of corruption. But as efforts to combat corruption are complicated by a global recession, financial institutions should work harder to improve their know-your-customer controls, according to Fran?§ois Valerian, head of Private Sector Programmes at Transparency International. What's more, they should strengthen some internal whistle blower programs, he said. Valerian, who formerly worked as an advisor for France's Minister of Industry, spoke with reporter Larissa Bernardes about how the international recession...

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