With rigorous economic research and practical policy solutions, we focus on the issues and institutions that are critical to global development. Explore our core themes and topics to learn more about our work.
In timely and incisive analysis, our experts parse the latest development news and devise practical solutions to new and emerging challenges. Our events convene the top thinkers and doers in global development.
Cross-border financial transfers, such as remittances, are important sources of money for developing countries. But reasonable national security policies designed to prevent money laundering and the financing of terrorism make it harder to carry out international transfers. CGD proposed how to make regulations clearer in order to help safeguard legitimate, vital sources of income for people in developing countries. Our recommendations were taken up the US regulatory body FATF.
Get Corruption, Transparency, and Governance Updates
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 poor countries. In other words, to prevent criminals transferring their ill-gotten gains around the world electronically, they are denying banking services to legitimate companies that are a vital route for millions of people and businesses. And we are talking huge sums of money.
Even while policy solutions to address de-risking are being implemented, new technologies have emerged to address de-risking by increasing the efficiency and effectiveness of AML/CFT compliance by financial institutions.