As a global bank, we must comply with the rules and regulations in all the jurisdictions in which we operate. The risk of financial crime is an important regulatory concern and we take our responsibilities in relation to this very seriously
It is recognised that some money service businesses don't have the proper checks in place to spot criminal activity and could unwittingly be facilitating money laundering and terrorist financing.
Abuse of their services can have significant negative consequences for society and for us as their bank.
We remain happy to serve companies who have strong anti-financial crime controls, but are asking the others to find another bank. This is solely about the company's controls, not where they send money to.
We are speaking with remittance industry bodies to support them in finding a solution for global remittances given the regulatory and financial crime pressures upon them. In the meantime, to assist customers find alternative banking services, we have given them double the normally permitted time, and are extending this where it is appropriate to do so.
Only a small number of money remitters we are not comfortable in banking have asked for an extension, and they have all been given more time to find another bank.
More top news
The unexploded bomb was found near the Houses of Parliament and led to disruption in central London overnight.
Led by Quo frontman Francis Rossi, Parfitt's band mate for 50 years, the group's current line-up joined mourners at Woking Crematorium.
Currently the Ealing Council has a huge shortage of suitable space and sees these steel well insulated boxes as a cheaper alternative.