FinCEN leak to spark extra due diligence measures from lenders

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By Mariam Meskin, Mike Turner
21 Sep 2020

The release of thousands of leaked documents over the weekend that implicated major banks in money laundering and sanctions violations has sent a shudder through capital markets. Lenders say they will likely increase due diligence to make sure they are not exposed to further revelations.

Major banks in the UK and US have been named in the files, which were leaked to BuzzFeed from the US Treasury Department's Financial Crimes Enforcement Network (FinCEN).

The files showed that some banks continued allowing customers to use money transfers despite suspecting the money was coming from illicit ...

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