My good friend Lisa Moyle sums up the unsatisfactory nature of the current situation with Customer Due Diligence (CDD) quite well, writing that the current rules are neither effectively preventing nor capturing crime. Instead, she says, they risk making financial institutions so overly cautious that they only serve to exacerbate the problem of the un- or under-banked and create
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We're doing analog AML to try and catch…
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My good friend Lisa Moyle sums up the unsatisfactory nature of the current situation with Customer Due Diligence (CDD) quite well, writing that the current rules are neither effectively preventing nor capturing crime. Instead, she says, they risk making financial institutions so overly cautious that they only serve to exacerbate the problem of the un- or under-banked and create