AML/CFT Regulation : Implications for Financial Service Providers that Serve Low-Income People

• Ngôn ngữ: eng
• Ký hiệu phân loại: 332.17 Banking services
• Thông tin xuất bản: Washington, DC, 2013
• Bộ sưu tập: Tài liệu truy cập mở
• ID: 304744
• Chủ đề: 1. ACCESS TO FINANCIAL SERVICES; 2. ACCESS TO SERVICES; 3. ACCOUNT HOLDERS; 4. ACTS OF TERRORISM; 5. ADVERSE EFFECTS

Tóm tắt

 This report on anti-money laundering (AML) and combating the financing of terrorism (CFT) regulation addresses the consequences of these regulations on low-income people. The introduction of new or tightened AML/CFT regulations may have the unintended and undesirable consequence of reducing the access of low-income individuals to formal financial services. As a means to avoid this outcome, this paper argues in favor of gradual implementation of new measures
  the adoption of a risk-based approach to regulation
  and the use of exemptions for low-risk categories of transactions.