The Financial Action Task Force (FATF) has provided preliminary information on the potential drivers of “de-risking” (where a financial institution terminates or restricts its business relationship with categories of customers) which highlights that there is a continued need to improve the evidence base in order to determine the causes, scale and impact of de-risking.

The FATF also states that it is undertaking work to further clarify the interplay between the FATF standards on correspondent banking (FATF Recommendation 13) and other intermediated relationships, and the FATF standards on customer due diligence (Recommendation 10) and wire transfers (Recommendation 16).

View Drivers for “de-risking” go beyond anti-money laundering / terrorist financing, 26 June 2015