Risk News

New York Proposes New Banking Rules to Stanch Flow of Illicit Financing

"As authorities around the globe grapple with the threat of terrorism, Gov. Andrew M. Cuomo is preparing to impose new regulations on New York State banks to prevent illicit money from flowing through Wall Street and into the hands of militants and criminals."

Annie's take:

Anonymous is one way to choke off the terrorists' cash flow. Here is another completely legal one, though I am not sure that requiring attestation from a chief compliance officer will put all the electronic systems in place that are necessary to catch it in the system.