I am completely lost on this. We are entereing into an agreement with a larger bank due to a customer of ours in need of a currency hedging program. Apparently the customer will receive the funds in Euro's - then the settlement to our account will be in US dollar. I've confirmed that the bank is a registered swap dealer and their contract contains the required Dodd-Frank language. This appears to be a clear cut solution for our customer. However, due to my lack of understanding - i am concerned that i am missing AML risks or due diligence requirements. If anyone has any guidance to share, it is much apprecaited.
Thanks in advance!!!