In the hours and days that followed the devastating earthquake in Haiti, little thought was paid to anything but rescuing those trapped and caring for survivors. As the dust settled, financial institutions on the ground have contended with a lesser trouble: anti-money laundering.
The U.S. Financial Crimes Enforcement Network has asked financial institutions to file reportson suspicious activity related to the distribution of hurricane-related relief funds.
The five U.S. banking regulatory agencies and Treasurys Financial Crimes Enforcement Network today urged banks to be reasonable in their approach to verifying the identity of individuals temporarily displaced by Hurricane Katrina.