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Banks and national regulators should adopt a more finely tuned, risk-based approach towards compliance and supervision to prevent the wholesale offloading of money services businesses and other categories of clients they view as inherently prone to illicit finance. After publishing more than 400 pages of guidance this month to help financial institutions adopt a more nuanced system for evaluating financial crime-related risk, the European Banking Authority clarified Monday that its intent was to combat the now decade-long de-risking phenomenon, not exacerbate it. "De-risking can be a legitimate risk management tool in some cases but it can also be a sign...