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Why banks axing clients won’t stop the scourge of financial crime

Banks and regulators need to get on the same page about stopping financial crime

De-risking is used by banks to manage potential financial crime risks they are exposed to, but it's no panacea to beat money laundering
De-risking is used by banks to manage potential financial crime risks they are exposed to, but it's no panacea to beat money laundering Photo: Getty Images

Max Heywood is head of public sector at Elucidate, a financial crime risk-scoring platform

Authorities are increasingly focusing on the challenge of de-risking. The most recent contribution came from the European Banking Authority, which published a paper on financial crime de-risking on 5 January.

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