Decision Walk: Correspondent Banking Due Diligence
Identify the due diligence questions that matter for a foreign correspondent banking relationship.
The request A foreign bank wants USD clearing, serves money transmitters, and asks for affiliate access. The relationship can transmit risk from customers you never directly onboard. Correspondent lens Respondent -> Program -> Downstream -> Controls Assess the bank, its AML controls, who it serves, and what access you are granting. Reputation They are known in the market Approval conditions map to the relationship's actual risk channel. Do due diligence on the access you are providing, not only on the institution requesting it. 01 Bank 02 Downstream 03 Controls 04 Try
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