Author: Syedur Rahman 30 September 2020
In an article for Finance Monthly, Rahman Ravelli’s Syed Rahman argued that responsibility for money laundering rests with everyone at a bank, not simply “those at the top’’.
According to researchers, banks with powerful CEOs and small, less independent boards are likely to take more risks and be more vulnerable to money laundering.
The research, conducted by the University of East Anglia, involved assessing 960 US banks. It found that the impact of money laundering is more pronounced where there is a powerful CEO – and that this is only partly reduced when there is a large, independent executive board.
But in his article, Syed emphasised the importance of preventative measures being adopted and acted upon by all bank employees.
Syed's article can be read here.
Syedur Rahman is known for his in-depth experience of serious fraud, white-collar crime and serious crime cases, as well as his expertise in worldwide asset tracing and recovery, civil recovery, cryptocurrency and high-stakes commercial disputes.