Assessing the Impact of the Financial Action Task Force on Financial Inclusion

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Is it possible to balance financial crime controls with financial inclusion objectives? Our event will assess the role of the Financial Action Task Force (FATF) in achieving this objective.

Today, roughly 1.7 billion people around the world have no access to a bank or mobile money account; they must rely on cash and unsecure informal financial channels which undermine the integrity of their countries’ economies. Amongst the many barriers to financial access faced by these people are financial crime controls.

The Financial Action Task Force (FATF) is the global standard setter for these controls. Since its inception in 1989, FATF has driven up global standards to fight financial crime through its 40 recommendations and process of mutual evaluation reports (MERs). However, this process has occasionally and unwittingly found itself at odds with assuring inclusive access to finance.

Two new papers from the Centre for Financial Crime and Security Studies at RUSI examine how the FATF has influenced financial inclusion and what this impact means for the effectiveness of the FATF system itself. This webinar will present the findings of these papers, and ask ask leading experts how the policy framework put in place by FATF should be configured to ensure financial inclusion is promoted whilst preventing financial crime.

The moderated panel discussion will be chaired by Tom Keatinge, Director, Centre for Financial Crime and Security Studies, RUSI, and include:

  • Isabella Chase, Research Fellow, Centre for Financial Crime and Security Studies, RUSI
  • Shana Krishnan, Policy Analyst, Financial Action Task Force
  • Chris Calabia, Senior Advisor, Supervisory & Regulatory Policy, The Bill and Melinda Gates Foundations
  • Cecilia Marian, Senior Financial Sector Specialist, The World Bank

This research project was sponsored by the Bill and Melinda Gates Foundation.

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