Louis de Koker shares his insights on the tension between measures to combat crime and the need to bolster financial inclusion in a working paper drafted in response to changes in the Financial Action Task Force’s risk-based approach.
Challenge A country in southwest Asia wanted to improve access to financial services for both citizens and for a significant refugee population. Concerns about inclusion and efficiency, along with the important role of cross-border remittances, indicated that digital financial services would offer the best solution. To enable the roll-out of DFS, the country’s central bank—backed financially and technically by two international development institutions—required the creation of an appropriate regulatory framework.
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