Published:
May 29, 2024
July 16, 2024
Event:
June 26, 2024
June 26, 2024
Webinars

Webinar Replay: Navigating Correspondent Banking Risks: Uncovering Global Footprints and Nested Relationships

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26 June | 1.30 p.m. BST

Entering into a business relationship with another bank carries inherent risks from an AML perspective, because a respondent bank will be acting on behalf of its own customers who are not known to the correspondent bank that is providing services to the respondent. The FATF’s Recommendation 13 specifies that correspondent banks must “gather sufficient information about a respondent institution to fully understand the nature of the respondent’s business.”

This requirement highlights the need for the correspondent conducting due diligence to have a thorough understanding of the scope of the relevant bank's business, including its global presence.  

Join us for our upcoming webinar on 26 June to explore:

  • the responsibilities and regulations set forth by the Financial Action Task Force (FATF) regarding correspondent banking 
  • the importance of uncovering your counterparties’ global footprint and nested relationships
  • how you can access detailed information on the geographical presence of your counterparties and their correspondent relationships, as well as a country risk score to help identify high-risk areas for further due diligence. 

Be a part of the conversation and explore the future of correspondent banking with us.

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