MIAMI -- At Bank of America, customers deemed "highrisk" must sign an agreement allowing the bank to disclose customer information to law enforcement agencies and financial institutions.

That's a strict way to deter money laundering, but Stephen Harvey, vice president for compliance at the BankAmerica Corp. unit, said it works.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.