New US Guidelines For Banks Aim At Corrupt Foreign Leaders

- By Risk Staff
- 01 Feb 2001

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WASHINGTON -- New guidance to help US financial institutions avoid involvement in the money laundering activities of corrupt foreign politicians and their associates got a welcome from US Senate sources fighting financial crime.

But some bankers were concerned the guidelines were too intrusive and might discourage even law-abiding wealthy individuals from using US banks.

The US Treasury and various federal agencies, including the Federal Reserve Board, issued the new guidelines in mid-January

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