Understanding Bank De-Risking and its Effects on Financial Inclusion
18 November 2015
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De-risking’ refers to financial institutions closing the accounts of clients perceived as high risk for money laundering or terrorist financing abuse, namely money service businesses, non-profit organizations, correspondent banks and foreign embassies. This report explores the linkages between bank de-risking and the ascendance of the risk-based approach to anti-money laundering and countering the financing of terrorism (AML/CFT).