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Review of U.S. PEP Accounts Would Show Missed Violations, Say AML Professionals
By Colby Adams
printCalls for a survey of how U.S. banks monitor high-risk accounts are likely to be ignored even if such a review would expose anti-money laundering compliance gaps, say industry experts. In a Sept. 13th letter to U.S. Treasury Secretary Timothy Geithner, six advocacy groups said the United States should assess how its anti-money laundering (AML) rules are enforced. Any review should be modeled on a June 22 report by the U.K. Financial Services Authority that found widespread compliance problems with British banks, they said. "There is no evidence to suggest that the situation in other financial centers, including the U.S.,...
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