A hike in coronavirus-related financial crime is presenting new challenges for banks, which could face significant reputational and regulatory repercussions if they are found to have acted unethically during the crisis, regulation and compliance experts warn.

There is a confluence right now of an increased risk of fraud, money laundering, bribery and corruption — schemes that are seeking to capitalize on the pandemic — and at the same time there may be an appearance of reduced capacity of compliance functions to stand guard

 Nicolette Kost de Sevres, who leads Mayer Brown’s compliance, investigations and regulatory practice in Paris.

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