• It is very complicated to keep on top of the different rules and regulations around this and some of this is very technical. As the CEO of an Arab Bank in London, what role do I have to play here aside from hiring the very best compliance team (which I have!). I think we are ok but how can I be sure? What else should I or my EXCO be doing here?

    The Themis Senate
    Themis

    26 May 2021

    • Yes

      1
    • No

      0
    • Other

      0

    Response [1] 26 May 2021

  • Correspondent Banks rely on the due diligence and transactional analysis by respondent banks but, there needs to be an intermediary software solution that connects all global banks which would identify / flag up residual risks that may not be identified by correspondent banking. This would also, need to be compliant with global data protection compliance. What do you think?

    Ravi

    26 May 2021

    • Yes

      0
    • No

      0
    • Other

      0
  • How can banks in the Middle East demonstrate to (potential) correspondent banks that their compliance practices are strong - and appropriate for correspondent banking relationships today?

    Andrew Cunningham
    Darien Analystics

    26 May 2021

    • Yes

      0
    • No

      0
    • Other

      0
  • Would professional launderers or OCGs use correspondent banking and if so how would they be able to circumnavigate the heavy control environment? Surely there are easier ways for them to move money or hide their activity?

    The Themis Senate
    Themis

    26 May 2021

    • Yes

      0
    • No

      0
    • Other

      0
  • In order to avoid the potential conflicts with local laws, do you expect MENA banks to shift from US dollars to euros and euro clearing, as a result of the new US AML legislation you spoke about today (i.e., as opposed to run the risk of US subpoenas and enforcement actions)?

    • Yes

      0
    • No

      0
    • Other

      0
  • How important is it to properly assess the jurisdictional risk and why is this different from assessing the controls of the correspondent bank in question? Also which is more important – the jurisdictional risk of the country where the bank is head quartered or the country where the client relationship is being sought?

    The Themis Senate
    Themis

    26 May 2021

    • Yes

      0
    • No

      0
    • Other

      0
  • As FinTechs generally do not have the same level of information as Traditional banks do, how do you think Tranditional Banks and FinTechs can work better together to get on top money laundering?

    The Themis Senate
    Themis

    26 May 2021

    • Yes

      0
    • No

      0
    • Other

      0