A shift in strategy from ‘hygiene’ to ‘hunter’
Reported by John Binns John Binns, a partner at BCL Solicitors, argues that conventional anti-money-laundering controls can focus too heavily on rejecting suspicious transactions rather than helping authorities investigate financial crime. Under this “hygiene” model, institutions prioritize due diligence, monitoring and suspicious activity reports (SARs). However, refusing transactions can push funds toward less-regulated jurisdictions, while […]