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/ News / Senior Partner Aziz Rahman outlines what banks need to do to prevent emergency Covid-19 loans being used to launder money in an article for Thomson Reuters

Senior Partner Aziz Rahman outlines what banks need to do to prevent emergency Covid-19 loans being used to launder money in an article for Thomson Reuters



With concerns that emergency Covid-19 loans could be used by those looking to launder money and finance terrorism, Rahman Ravelli’s Aziz Rahman outlined the challenge facing banks.

His thoughts on the issue were used by Thomson Reuters for an article. In the piece, which can be read here, Aziz emphasised that banks currently have limited ways of conducting due diligence. But he stressed that banks must follow Financial Conduct Authority guidance and consider – at the highest level – what checks they can carry out on customers.

With the potential for remote working, there is, according to Aziz, no reason why banks cannot assess and amend their compliance procedures.

Aziz's comments can be read on Thomson Reuters Regulatory Intelligence (subscription required).

Azizur Rahman

Azizur Rahman

Senior Partner

aziz.rahman@rahmanravelli.co.uk
+44 (0)203 911 9339 vCard

Specialist Areas of Practice: International Regulation and Corporate Crime, Fraud and Business Crime, Complex Crime, Civil Fraud, Corporate Investigations.

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