De-risking

De-risking refers to the phenomenon of financial institutions terminating or restricting business relationships with clients or categories of clients to avoid, rather than manage, risk. The State Department’s Office of Global Sanctions and Threat Finance within the Bureau of Economic and Business Affairs (EB/TFS/GST) monitors reports of de-risking and its drivers, including reports related to the termination of correspondent banking relationships and the closure of accounts of humanitarian assistance groups, money service businesses, and foreign missions in the United States among others. We seek to promote financial inclusion and transparency while ensuring that the U.S. financial system is protected from money laundering and terrorism finance.