World Bank plans to put 'de-risking' on the global agenda
Banks are reportedly shutting down the accounts of customers in "high-risk" categories. The World Bank has begun work on the problem, arguing that AML must be balanced against the need for remittances and money transfer services
The World Bank is to act on reports that tighter anti-money laundering (AML) rules are blocking the remittance and transfer services used by millions of the world's poor. Concerns over so-called "de-risking" – closing accounts of higher-risk category clients, such as money transfer operators, in bulk – are growing significantly, and the World Bank is conducting a global survey as a first step
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