Amid Farage Bank Account Furor, Britain Changes Tune on De-risking

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How those new expectations will jibe with current requirements that banks build compliance programs and use their own cognizance to guard themselves against money launderers, terrorist financiers, fraudsters and sanctions evaders is unclear, said Tom Keatinge, a director at the Royal United Services Institute, or RUSI, in London. “This same concern has been raised by charities and MSBs [money services businesses] for over a decade and the government has done nothing material about it,” said Keatinge. “Now it’s going to intervene in the decision-making of banks.”