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Treasury Speaks AML And All Is Well

September 1, 2016

There’s no such thing as too often to clarify financial regulations, and the U.S. Treasury did so Aug. 30 – apparently in response to foreign criticisms of its anti money laundering (AML) practices – and any time the Treasury speaks about AML PFs should listen.

Calling the Treasury’s AML oversight so strict as to discourage relationships between U.S. banks and foreign correspondent banks, critics-most recently the International Monetary Fund-at least succeeded in getting the Treasury to further explain its stance on AML and countering the financing of terrorism (CFT) with a blog post and a four-page fact sheet. The communication did not announce any changes to regulations, merely emphasized a few points.

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