Hundreds Of Banks Admit De-Risking, Blame AML Laws

An international survey of financial institutions has found that nearly half have cut services to entire industry segments so far this year, with regulatory risk cited as the most influential factor.

The survey, conducted jointly by anti-money laundering (AML) group ACAMS and Dow Jones, quizzed more than 800 financial institutions on whether regulatory pressures have had an effect on their provision of services to fund transfer businesses.

“In 2016, 40 percent of respondents report their companies have exited a full business line or segment of business in the past 12 months due to perceived regulatory risk and/or the organisation’s inability to manage the risk, an increase from 2015,” it said.

Request a Free Trial

As a trusted source of regulatory intelligence for the global payments industry, we enable organisations to manage the growing volume and velocity of regulatory risk with confidence, empowering more informed and effective decision making, in an efficient and cost-effective way.

Take a Trial