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Banks can manage money-laundering risk without withdrawing service, FCA says

( April 27, 2015, 20:26 GMT | Official Statement) -- MLex Summary: Banks shouldn’t jettison entire categories of customers based on the risks of money laundering, the UK Financial Conduct Authority said in a statement responding to some companies withdrawing services such as correspondent banking. The statement accompanies updated guidance for firms in guarding against criminals misusing the legitimate financial system.The following is the text of FCA statements on the guidelines and on banks’ withdrawal of services. Click the attachments at bottom for related documents in full....

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