Trade finance banks doing business with Africa increasingly vulnerable to terrorist financing risks

The US treasury department has highlighted in its 2024 National Terrorist Finance Risk Assessment (NTFRA) the risks trade finance banks run through possible exposure to terrorist financing via correspondent banking relationships. It also says that relationships with counterparties in Africa are increasingly vulnerable to terrorist…

Trade finance banks face new AML/CFT/PF challenges says US treasury’s latest suite of risk assessments

The US treasury department has published its 2024 National Risk Assessments in three separate reports, on money laundering, terrorist financing, and proliferation financing. The reports highlight the most significant illicit finance threats, vulnerabilities, and risks facing the US. Trade finance banks face longstanding threats as…