Financial intermediaries 바카라 사이트“ Anti-money laundering allies in cash-based societies?
Abstract
Many informal cash-based economies run parallel financial systems that are very different to the Western banking concept. Such countries are perceived to have a high risk of money laundering. Looking at Afghanistan, Somalia, and India 바카라 사이트“ where anti-money laundering efforts have yielded mixed results 바카라 사이트“ this paper draws lessons from the operations of financial intermediaries. These countries are considered high risk not only for money laundering and terrorism financing, but also for corruption and political and legal concerns. The issues at hand 바카라 사이트“ risk assessments for remittances, strategies of engaging on the ground, resource management, and alternatives to the existing financial networks 바카라 사이트“ are also valid for other cash-based, low-income societies. In fact, informal remittance channels may provide opportunities to strengthen regulatory and governance capacities.
Citation
Passas, N. Financial intermediaries – Anti-money laundering allies in cash-based societies? U4 Anti-Corruption Resource Centre, CMI, Bergen, Norway (2015) 30 pp. [U4 Issue, April 2015: No. 9]
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