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

World Bank: global survey on bank de-risking

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 towards addressing the problem.

"When we first spoke with regulators and governments, they said 'yes we