New FATF Guidelines Won’t Deter De-Risking, Experts Fear

Industry experts are unconvinced by a global watchdog’s latest guidance for correspondent banking relationships, arguing developments are still too thin to discourage banks from cutting ties.

The guidance, published by the Financial Action Task Force (FATF) earlier this month, instructed financial institutions to take a risk-based approach to correspondent banking relationships, rather than cut ties across entire sectors or countries deemed high risk.

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