Correspondent banking services are riskier transactions to manage. Why? Because correspondent banks rely on respondent banks to conduct the proper AML checks of their customers.
If controls are ineffective, the correspondent bank is vulnerable to money launderers who will leverage weaknesses in AML processes to facilitate their illicit activities. Correspondent banks can mitigate that risk by conducting their own detailed risk assessment.
Navigate the complex terrain of counterparty risk in correspondent banking with actionable advice from AML experts offered in this eBook.
