‘Inherent risks’ in trade finance a cause for work for UK regulators as urgent letter to CEOs issued - AML Intelligence
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‘Inherent risks’ in trade finance a cause for work for UK regulators as urgent letter to CEOs issued

By Dan Byrne for AMLi

Trade finance firms in Britain are not doing enough to catch suspicious activity and monitor their day-to-day risk, the country’s financial regulators have suggested.

In a letter to firms’ CEOs, the Bank of England’s Prudential Regulation Authority – alongside the UK Financial Conduct Authority – have criticised insufficient levels of action on important risk elements concerning financial crime.

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