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REPORTS
November 06, 2015
Money laundering, terrorism financing and sanctions violations by individuals, banks and other financial entities are serious offenses with significant negative consequences for rich and poor countries alike. Governments have taken important steps to address these offenses. Efforts by international ...
Blog Post
May 27, 2015
During the Queen’s Speech, newly re-elected British Prime Minister David Cameron proposed an extended counter-extremism bill in order to confront “head-on the poisonous Islamist extremist ideology.” A press release from the Prime Minister’s office said that the...
Blog Post
March 10, 2015
Rules to name, shame, and punish banks, whose clients may funnel money to terror groups, are denying much-needed funds to developing countries. It’s a clash of two sets of sound policies, says Clay Lowery, former assistant secretary for international affairs at the US Treasury and the chair of...
Blog Post
February 26, 2015
Rich countries’ anti-money laundering rules are “causing a great deal of hardship” by making it very costly for migrants to send money home. So testified Federal Reserve Chair Janet Yellen before lawmakers on the House Financial Services Committee in Washington this week. It’...
Blog Post
February 25, 2015
It’s a worry for many people that legitimate cross-border transactions - including vital remittances sent home by migrant workers - are becoming prohibitively expensive and burdensome because of over-zealous enforcement of anti-money laundering rules. Would cryptocurrencies such as bitco...
Blog Post
February 20, 2015
In a few weeks’ time Australia’s Westpac bank will start closing down the accounts of money transfer organizations used by immigrants to send money home. Westpac is the last major Australian bank still offering services to organizations in the country’s US$25bn remittance sector.
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Blog Post
February 09, 2015
De-banking is an ugly word, but it’s the focus of a new working group launched by CGD in Europe. Banks in rich countries, under pressure from anti–money laundering and counterterrorism enforcement efforts, are increasingly “de-banking” money transfer organizations that operate in p...