ManchesterCF Analytics is circulated to clients and industry professionals to provide some insight into the complex world of financial intelligence. There is no charge for a subscription. Feedback is always welcome. See samples below.
Escalation of Proliferation
In recent years, financial institutions have been compelled to enact defences which combat the proliferation of weapons of mass destruction. Proliferation financing is the use of the modern financial system to manufacture, distribute or purchase chemical, biological, radiological or nuclear (CBRN) weapons of mass destruction (WMD). Given a recent administrative error by the United States military’s Joint Chiefs of Staff, financial institutions can expect increased pressure by governments to combat proliferation financing within international banking.
Private Banking Defences
For private bankers, preserving client wealth is a fundamental principle upon which they build their businesses and reputations. Preserving wealth against financial loss is one matter. Preventing financial loss or damage to clients from a financial crime event is another. For the latter, anti-money laundering (AML) training and other defences become a marketing tool, not a blockage created by the compliance function against new business.