Banks Reassess Exposure to China Amid Rising Tensions: Sources

ACAMS moneylaundering.com

04/01/2019

John E. Smith

Investigations + White Collar Defense, Global Risk + Crisis Management, and National Security, CFIUS, Sanctions + Export Controls

In The News

Amid rising geopolitical tensions and the prospect of new sanctions, global banks with U.S. operations are taking another look at their connections to China, according to sources reporting to ACAMS moneylaundering.com. Morrison & Foerster National Security co-chair and former Director of the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC), reacts to concerns that U.S. officials have stressed regarding risks of exposure to Chinese entities in discussions with global financial institutions.

“They won’t say ‘Don’t deal with China,’ they’ll say ‘Be cautious in dealing with China,'” Smith said. “It doesn’t give you much to go on.”

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