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Assessing the Impact of the FATF on Financial Inclusion


Jointly presented by Fintelekt Advisory Services and the Asian Bankers Association.
Around the world there are roughly 1.7 billion people without access to a financial account either at a bank or with a mobile money provider. For those 1.7 billion, access to financial services is constrained by several factors, including the controls in place at financial institutions to try and curtail financial crime risk. The standards for these controls are set by the Financial Action Task Force (FATF) who, since 2019, have committed to promoting financial inclusion. The FATF recently launched a project to examine the unintended consequences of its framework, one aspect of which, focuses on financial exclusion. The Centre for Financial Crime & Security Studies(CFCS) at The Royal United Services Institute for Defence and Security Studies (RUSI), over the past 18 months, has researched the impacts of the FATF standards on financial inclusion. This effort, funded by the Bill & Melinda Gates Foundation, will result in the production of two papers that will be released in mid-June. This webinar will include the findings of these two papers and highlight (a) the impacts of the FATF framework on financial inclusion and (b) five recommendations for how FATF could better promote and protect financial inclusion in the future.
Shirish Pathak, Managing Director, Fintelekt