Recent Posts
Featured Posts
“De-risking,” Cohen said, “is not the closing or restricting of an account because a financial institution, applying an appropriately designed risk-based analysis, determines that it cannot manage the risk of illicit activity associated with a particular client.”
U.S. Department of the Treasury Urges Banks to Avoid ‘De-Risking’
As I said, it's all about Belize's ILLICIT RISK: U.S. Department of Treasury Under Secretary for Terrorism and Financial Intelligence David Cohen explained, during a Nov. 10 speech at the American Bar Association/American Bankers Association Money Laundering Enforcement:"De-risking,” Cohen said, “is not the closing or restricting of an account because a financial institution, applying an appropriately designed risk-based analysis, determines that it cannot manage the risk of illicit activity associated with a particular client.”
