Uncovering the Hidden and Not So Hidden Expenses of Current AML Regulations in Banking

Wednesday, 12 June 2024, 14:38
The post delves into the adverse effects of strict anti-money laundering rules, which often result in the exclusion of individuals and regions from banking services. Noelle Acheson proposes the urgency for a more sustainable approach amidst the industry's pursuit of 'financial inclusion'.
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Uncovering the Hidden and Not So Hidden Expenses of Current AML Regulations in Banking

The Impact of AML Rules on Banking

Stringent anti-money laundering regulations have unintended consequences, pushing institutions to debank individuals and regions.

Noelle Acheson argues for a rethink towards financial inclusion goals.

  1. Heavy compliance costs hamper access to banking services.
  2. Debanking furthers economic disparity.
  3. Financial inclusion requires balanced policies.
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