tag:blogger.com,1999:blog-3274552908642016799.post8588901650566959830..comments2024-03-05T14:00:56.231-05:00Comments on Kenneth Rijock's Financial Crime Blog: AMERICAN BANKERS CLOSING CORRESPONDENT ACCOUNTS FOR CARIBBEAN TAX HAVEN BANKS RUN INTO FLACK FROM REGULATORSKenneth Rijockhttp://www.blogger.com/profile/01554435575770320149noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-3274552908642016799.post-51393970718631917032016-03-11T16:10:57.271-05:002016-03-11T16:10:57.271-05:00If Caribbean banks have competent compliance offic...If Caribbean banks have competent compliance officers, and banking best practices AML/CFT software, why are do many money US money laundering prosecutions show that the origins of the drug profits being laundered are banks in that region ? Why do these countries sell passports to known criminal elements, Middle Eastern nationals from sanctioned and terrorist enabling countries, and bank known OFAC sanctioned individuals and entities ? Having the tools does not matter if you let in dirty money. De-risking is the justified response to all that dirty money; let all those money laundering banks fail, because they cannot access the US banking structure. Kenneth Rijockhttps://www.blogger.com/profile/01554435575770320149noreply@blogger.comtag:blogger.com,1999:blog-3274552908642016799.post-4371787111821613402016-03-11T08:00:18.425-05:002016-03-11T08:00:18.425-05:00I don't agree with this post! Not all Caribbea...I don't agree with this post! Not all Caribbean banks are what is being portrayed in the news and in blogs like yours. Millions of dollars are being spend by Caribbean banks on AML software and other technology to ensure that AML risk is minimized while little profit is being made. While many American banks ask for minimal KYC to open accounts International best practices are being adhered to by most Caribbean banks. It is a shame that while everyone like the US is talking about developing countries needing support and aid to develop the same US is shutting us out from growing our economies by de-risking Anonymousnoreply@blogger.com