Govt promotes success of new anti-money laundering laws on world stage, while those at the coalface fork out to meet standards

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Banks consider how vulnerable money remitters are based on whether they are registered, accept cash deposits frequently or deposits with a high value, process transfers to or from high risk jurisdictions, aggregate bulk payments and thus remove the transparency on their clients, have little or no upper limits on the value or frequency of transactions, and have a comprehensive AML/CFT risk mitigation programme.

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