Resource information
This focus note presents key findings of
a 2008 report on implementing Financial Action task Force
(FATF) standards in developing countries The Financial
Sector Reform and Strengthening(FIRST) Initiative funded a
five-country study to analyze the effects of anti-money
laundering (AML) and combating the financing of terrorism
(CFT) regulation on access to finance, especially in
low-income populations. Standard AML and CFT measures
promote financial integrity and support crime fighting, but
they can also exclude low-income people from financial
services through onerous regulations. The study identifies
factors that may intensify this impact, provides approaches
on the design of appropriate AML/CFT controls that
complement financial access policies, and suggests key
design principles for AML/CFT controls.
