You searched for: Content Type Working Paper Remove constraint Content Type: Working Paper Publishing Institution Center for Global Development Remove constraint Publishing Institution: Center for Global Development Political Geography Global Focus Remove constraint Political Geography: Global Focus Publication Year within 5 Years Remove constraint Publication Year: within 5 Years Publication Year within 10 Years Remove constraint Publication Year: within 10 Years Topic Terrorism Remove constraint Topic: Terrorism
- Author: Michael Pisa
- Publication Date: 05-2019
- Content Type: Working Paper
- Institution: Center for Global Development
- Abstract: As the organization responsible for setting international standards on anti-money laundering and countering the financing of terrorism (AML/CFT), the Financial Action Task Force (FATF) has encouraged countries to design measures that protect the integrity of the financial system and support financial inclusion. But it has also received criticism that poor implementation of its standards can undermine financial access. One of the FATF’s main tools for compelling effective use of its standards is the mutual evaluation process, which relies on peer reviews to assess countries’ level of compliance with the FATF Recommendations. We explore whether these reviews have been conducted in a way that helps or hinders national efforts to promote financial inclusion by reviewing the 33 developing country mutual evaluations that took place between 2015-2018. Overall, these findings suggest that assessment teams have conducted mutual evaluations in a way that supports efforts to promote financial inclusion and the flexible use of simplified measures. There is, however, inconsistency in how assessors treat risks emanating from financial exclusion, which suggests the need for a more systematic approach to evaluating these risks.
- Topic: Development, Terrorism, Finance, Financial Integrity
- Political Geography: Global Focus