Fatca risks internal wranglings in FFIs
The Fatca tension
In March this year Anders Meinert Jørgensen, head of group operational risk and compliance at Nordea, described anti-money laundering as "the big one" to Operational Risk & Regulation. And 2013 has seen a concerted effort in stepping up AML processes in financial institutions across the globe. Jorgensen told OpRisk that seeing a bank hit by a $1.9 billion fine (as HSBC was in 2012) makes it much easier to explain to senior management and the bank in general that this is serious business.
"It
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