Tag Archives: FATF

Know-Your-Customer (KYC) for a Clean Nominee Bank Account

14 Dec
Know-Your-Customer (KYC)

Financial institutions fear to be wittingly or unwittingly implicated when they are used to settle, facilitate, or finance international trade transactions (e.g., through processing wire transfers, providing trade finance, and issuing letters of credit and guarantees). Implication is criminal prosecution for money laundering. Financial Action Task Force (FATF) rules extends to everybody and leads to […]