Conflict in the Middle East Creates a Compliance Minefield for Banks

Conflict in the Middle East creates a compliance minefield for banks

The ongoing turmoil in the Middle East has highlighted the complexities of successful anti-money-laundering compliance in a conflict zone. U.S. banks need to step up their game in order to stay safe.

War exclusions to largely limit impact of recent Middle East turmoil: AM Best

AM Best expects the direct impacts of the recent military action in the Middle East on the insurance industry to be largely limited by war exclusions and narrowly defined policy triggers. In its recent report, AM Best noted that there has been no ratings impact on insurers operating in the region so far. However, it warned that escalating tensions could affect those underwriting political risk, trade credit, and war risk coverage in the region. …