This week, the International Consortium of Investigative Journalists and affiliated media organizations issued a series of reports on how financial institutions were allegedly facilitating suspicious money flows amounting to more than 2 trillion US dollars. Several Malaysian banks were also mentioned. Thorsten Beck, Professor of Banking and Finance, at The Business School (formerly Cass), City, University of London helps us understand what banks are obliged to do under such circumstances, and possible policy responses if any.

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