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Reported U.S. Concerns over Saudi Bank Leave Compliance Officers Reading Tea Leaves
By Brian Orsak
printIt could take only a news report of alleged terrorist financing to send compliance teams at financial institutions scrambling. Particularly when the source of the allegations is the U.S. government. The Wall Street Journal on Thursday, citing confidential CIA documents, said that the U.S. government has internally voiced concerns that Saudi Arabia-based Al Rajhi Bank maintained accounts and processed transactions for entities designated by the U.S. as fronts for terrorist groups. As a result, U.S. officials have been debating whether to take action against the bank, the newspaper reported. A spokesperson for the CIA acknowledged the leak of the report...
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