Resource Center

Background The XLVII CFATF Plenary, in May 2018, gave approval for a stocktaking exercise on ‘De-risking’ in the Caribbean region to be conducted. The outstanding factors to address this exercise […]

Regulators face a challenge in balancing policies on anti-money laundering and combating the financing of terrorism against placing the least burden on outreach to the poor and unbanked. This Technical […]

Use by financial authorities of advanced data collection and analytics tools enabled by new technologies is collectively called suptech. In the area of data analytics, the development of such tools […]

This Policy Brief argues that inclusion on any future adopted European Union (EU) AML/CFT list of high-risk third jurisdictions would be problematic for The Bahamas for three main reasons. First, […]

In 2017, an IFC report1 pinpointed the reductions in the network of correspondent banks in emerging markets. In emerging markets, correspondent banking stress and compliance challenges drove some respondent banks […]

Private Companies and the Public Sector, separately and together, are increasingly leveraging new collaborative approaches to help financial services providers (FSPs) meet international customer due diligence (CDD) requirements. To overcome […]

For banks in emerging markets, the regulatory landscape is more complicated than ever. Rules designed to fight money laundering and root out terror finance have made the financial system safer […]

Building on the FATFs 2013 Guidance on National Money Laundering and Terrorist Financing Risk Assessments, this report provides good approaches, relevant information sources and practical examples for practitioners to consider […]

Further progress has been made in implementing the FSB’s coordinated four-point action plan on correspondent banking since the progress reports sent to the Hamburg G20 Summit. Attached are two reports, […]

This report presents updated results to the FSB Correspondent Banking Data Report of July 2017, and FSB Correspondent Banking Data Report – Update of March 20182 derived from information provided […]

The decline in the number of correspondent banking relationships in many countries around the world remains a source of concern for the international community because, in affected jurisdictions, it may […]

The decline in the number of correspondent banking relationships in many countries around the world remains a source of concern for the international community because, in affected jurisdictions, it may […]

Allan Wright Country Office Economist, IDB Bahamas Video not supported. On February 13, 2019, the Commonwealth of The Bahamas (The Bahamas), along with 22 other jurisdictions, was included on an […]

A 2015 World Bank Study reflected that the Caribbean appeared to be the region most affected by derisking strategies. Many international correspondent banks either ceased to offer their services or […]

At the request of the G20 and the Financial Stability Board (FSB), and with the support of the Committee on Payments and Market Infrastructures (CPMI), the World Bank Group has […]

Caribbean economies are open economies dependent upon international trade, foreign direct investment and remittances more so on average, than other countries. Small Caribbean countries, including the three countries that are […]

These guidelines set out factors firms should consider when assessing the money laundering and terrorist financing (ML/TF) risk associated with a business relationship or occasional transaction. They also set out […]

Correspondent banking relationships (CBRs) play an essential role in economies around the world, enabling local banks to access overseas products and carry out cross-border transactions. But while such relationships are […]

On May 31 and June 1, 2016, the World Bank and ACAMS (Association of Certified Anti-Money Laundering Specialists) organized a two-day workshop in Washington D.C., the “Stakeholder Dialogue on De-Risking.”

This paper focuses primarily on solutions and mitigants to the problems arising from restriction of financial services and withdrawals of correspondent banking relationships (CBRs) which is popularly known as “de-risking” […]