US Treasury Derisking Strategy for 2023

30 April 2023

US Treasury Derisking Strategy for 2023

The U.S Treasury has released its 2023 De-Risking Strategy, as required under the 2020 Anti-Money Laundering Act.

The strategy identifies the key customer categories that are impacted most often by de-risking and the top causal factors behind the phenomenon, where financial institutions end or restrict business relationships indiscriminately based on broad categories of customers, instead of managing the risks of those customers.

The strategy recommends policy options for combatting de-risking, including:

Reviewing firms’ AML/CTF examination practices;
Improving AML/CTF programmes and implementing risk-based approaches;
Improving international cooperation to raise AML/CTF compliance;
Explore the potential for emerging technological solutions;
Modernising U.S sanctions programmes; and
Furthering public-private sector engagement in areas including AML/CTF regulatory obligations and compliance practices.

Firms operating with or in the United States should review the Treasury’s de-risking priorities for the year ahead.

Read the full report

Back to news and insights Read next article

Speak to us to request a demonstration

Plenitude are Financial Crime, Risk and Compliance specialists, offering advisory, transformation services and innovative cloud-based RegTech subscription products.

We help our clients meet their regulatory obligations and reduce their financial crime risk exposure by providing deep subject matter expertise, advisory and transformation services.

Find out more

US Treasury Derisking Strategy for 2023

30 April 2023

US Treasury Derisking Strategy for 2023

The U.S Treasury has released its 2023 De-Risking Strategy, as required under the 2020 Anti-Money Laundering Act.

Speak to us to request a demonstration

Plenitude are Financial Crime, Risk and Compliance specialists, offering advisory, transformation services and innovative cloud-based RegTech subscription products.

News and insights

Plenitude Insight into the application of AI in UK's Investment Industry

GCFFC publishes its AML Supervision Report for 23/24

ICAEW publishes its AML report for 23/24