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OverviewRemittances are a critical source of financing for most developing countries. The importance of remittances goes beyond numbers. For many households in developing countries, they are probably the most stable source of primary or additional income. At the same time, the September 11, 2001, terrorist attacks exposed the use and abuse of remittance channels for financing terrorism. In response to this threat, the international community issued new international anti-money laundering/combating the financing of terrorism (AML/CFT) standards on remittance transfers and their service providers. For the first time, remittance service providers were required to be brought under the government oversight and either registered with or licensed by a competent authority, and to be subject to AML/CFT obligations. While the Financial Action Task Force (FATF) Recommendations appear straightforward on paper, regulating and supervising in practice the money transfer business has proved to be a very challenging task in both developed and developing countries. This book assists policy makers, regulators, and supervisors of money transfer businesses to craft effective regulatory and supervisory frameworks governing remittances that meet international AML/CFT standards, while at the same time ensuring that the neediest have access to these crucial services Full Product DetailsAuthor: Emiko Todoroki , World Bank , Kuntay Celik , Anoma KulathungaPublisher: World Bank Publications Imprint: World Bank Publications Dimensions: Width: 17.80cm , Height: 1.40cm , Length: 26.00cm Weight: 0.467kg ISBN: 9781464801099ISBN 10: 1464801096 Pages: 264 Publication Date: 30 June 2014 Audience: Professional and scholarly , Professional & Vocational Format: Paperback Publisher's Status: Active Availability: In stock We have confirmation that this item is in stock with the supplier. It will be ordered in for you and dispatched immediately. Table of ContentsReviewsAuthor InformationTab Content 6Author Website:Countries AvailableAll regions |