De-Banking vs. De-Risking: Dealing with Unintended Consequences of a Risk-Based Approach
According to a FATF publication, de-risking is “the phenomenon of financial institutions terminating or restricting business relationships with clients or categories of clients to avoid, rather than manage, risk … De-banking, or the loss of any financial services, may or may not be de-risking depending on the reasons for it.” Our panel will discuss the issue from the point of view of both regulators and market participants and address the de-risking of individual customers as well as de-risking of certain categories of business.
You will learn how to:
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Evaluate when — and whether — de-banking and de-risking can be justified
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Apply FATF’s risk-based approach to de-risking to avoid the unintended consequences of financial exclusion and “jurisdiction shopping”
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Assess the controls in place at potential client institutions to help decide whether they are “bankable”
Moderator:
Uldis Upenieks, Co-chair, ACAMS Baltic Chapter
Presenters:
Ramunė Abazorienė, Head of AML/CFT/CFP and Sanctions Compliance Department, Luminor Bank AS
Antonia Adams, Senior Vice President, Head of Financial Crime Risk Management, Danske Bank
Laima Letiņa, CAMS, CGSS, Advisor, Finance Latvia Association