Accuity: Derisking and the Demise of Correspondent Banking Relationships

Correspondent banking is the cornerstone of the global payment system, designed to serve the settlement of financial transactions across country borders. It allows companies and individuals to safely move money around the world and supports and encourages global trade.

Since the financial crisis, tighter regulations - and in particular the regulatory penalties imposed for violations of anti-money laundering (AML) – have caused western banks to rethink their global strategy. The risks of

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