Washington continues blitz on third-country entities linked to sanctions evasion
The US is continuing its blitz of sanctions on third-country entities that Washington believes are helping sanctioned entities to continue doing business in global markets. The latest sanctioning of 39 entities in Hong Kong, Singapore, Turkey and the UAE relate to them allegedly forming a…
International trade and global banking hard hit by efforts to stem trade-based financial crime
Research by Accuity shows a 25 per cent drop in global correspondent banking relationships due to de-risking. Driving the decline are US and European banks that are choosing to back out of or not enter markets rather than shoulder the risks and costs involved in…
Survey reports rising L/C costs
A recent survey has found that letter of credit (L/C) costs have risen since the 2008 financial crisis. The survey conducted by the Swiss-based Joint Forum examined credit risk management at banking, securities, and insurance companies worldwide. Overall improvements Overall, the survey finds that credit…
