Daniel P. Stipano extensively quoted in an American Banker article, “Will ‘Fincen Files’ give banks opening to push for AML reform?”
American BankerDaniel P. Stipano
Daniel P. Stipano was extensively quoted on September 23, 2020, in an American Banker article, “Will ‘Fincen Files’ give banks opening to push for AML reform?” which discussed whether the “Fincen Files” will bring attention to the flaws of SARs and other anti-money-laundering efforts, with the hopes of regulatory reform.
Stipano noted, “I think you can look at it two ways. One way is that it creates more urgency for AML reform because some may now perceive that the current system isn’t working all that well. But to the extent that there is a perception that AML reform results in more leniency for banks, some may think we need to hit the pause button before charging ahead with very significant reform legislation. If it plays out that way, I can see it derailing the reform bill.”
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