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AML/CFT Regulations : Balancing Security with Access

Across the world, new measures are being introduced to combat money laundering and the financing of terrorism. Once the concern primarily of banks, governments have expanded regulations and requirements for compliance since the late 1990s. Now all...

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Bibliographic Details
Main Author: World Bank
Language:English
Published: Washington, DC 2012
Subjects:
ANTI-MONEY LAUNDERING
BANKS
CLIENT IDENTIFICATION
CONSUMER
CONSUMER GROUPS
CONVENTIONAL BANKS
DEPOSITS
DUE DILIGENCE
E-MAIL
FINANCIAL ACTION
FINANCIAL INSTITUTIONS
FINANCIAL PRODUCTS
FINANCIAL SERVICE
FINANCIAL SERVICE PROVIDERS
FINANCIAL SERVICES
FINANCIAL SERVICES AUTHORITY
FINANCIAL SYSTEM
FORMAL FINANCIAL SERVICES
GLOBAL FINANCIAL SYSTEM
IDENTIFICATION SYSTEMS
INSURANCE
INSURANCE SERVICES
INTERNAL CONTROLS
LAW ENFORCEMENT
LOAN
LOAN FUNDS
LOW-INCOME
LOW-INCOME PEOPLE
MATERIAL
MICROCREDIT
MICROFINANCE
MONEY LAUNDERING
MONEY TRANSFER
MONEY TRANSFERS
NONPROFIT ORGANIZATION
PAYMENTS SYSTEM
PDF
POST OFFICE
REGULATORS
REGULATORY REGIMES
REPUTATION
RESULT
SAVINGS
TAX
TERRORISM
TERRORIST
TRANSACTION
TRANSACTION ACCOUNT
UTILITY BILL
VERIFICATION
WEB
Online Access:http://documents.worldbank.org/curated/en/2006/04/9648233/amlcft-regulations-balancing-security-access
http://hdl.handle.net/10986/9622
Description
Summary:Across the world, new measures are being introduced to combat money laundering and the financing of terrorism. Once the concern primarily of banks, governments have expanded regulations and requirements for compliance since the late 1990s. Now all financial service providers, including those working with low-income communities, are or will be affected. As a result, the new international framework and national measures for Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) could have far-reaching effects.

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