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Midweek Roundup: Banamex USA Investigation Focuses on Company Emails, US Officials Regret De-risking, and More
printA federal investigation of lax anti-money laundering (AML) controls at Citigroup's California-based affiliate, Banamex USA, has centered on internal emails sent by lower-level employees concerned over large cash transactions at the bank, insufficient compliance resources and managerial unresponsiveness to their complaints, Bloomberg reported Tuesday. More Some U.S. authorities have privately told bankers that they never intended for the spike in AML enforcement and prosecutions to lead lenders to comprehensively withdraw from high-risk countries like Mexico, the Financial Times reported. Most global banks have terminated U.S. dollar clearing services in the country, while others have placed "absurd restrictions" on the activity,...
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