#QuickBiteCompliance Day 24
This LinkedIn post educates me on the concept of Bank Secrecy, highlighting its significance in financial regulations. Bank Secrecy refers to laws preventing banks from disclosing account information without account holder consent, hindering cross-border information exchange among financial institutions and regulators. The post emphasizes the importance of aligning secrecy laws with international standards like the FATF Recommendations to ensure effective implementation. Understanding Bank Secrecy is crucial for compliance and regulatory adherence in the financial sector.
#QuickBiteCompliance #InclusiveRegtech #BankSecrecy
Source: https://www.acams.org/en/resources/aml-glossary-of-terms
