Customer Due Diligence Prompt US Banks to Foreign Close Accounts

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Stricter regulations are being introduced in the US, as foreign clients from certain American banks have started receiving letters notifying them of their accounts having to be closed as a result of new Customer Due Diligence (CDD) regulations.

Some of the banks are the largest lenders in the States, and include:

Morgan Stanley.
Wells Fargo.
Merrill Lynch.