Profiteering, as always, is the motive. Bank unwilling to spend money to assure regulators it is on up and up!
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,” said Daniel Hunter, spokesperson for Barclays.
“It is recognized 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.”
Ned Hamson's Second Line View of the News 