This doesn’t mean that other currencies are not being vigorously policed, but there is a common view that the intensity with which US authorities are interpreting and enforcing rules preventing money laundering and terrorist funding is a couple of steps above and beyond other authorities.
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Further reading |
| • Clear & present danger • European banks weigh up US Dollar clearing options |
Stories abound of US authorities making regular and unannounced visits to US banks and the New York offices of major foreign banks, where up to 20 regulatory officials crawl and pick over transactions day-in-day-out.
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