The anti-money laundering (AML) community continues to struggle with the conflict between retaining certain high-risk accounts and satisfying regulatory oversight of managing such risk. ACAMS has included sessions at our conferences, seminars and webinars on this issue—de-risking—but we are well aware that there has been no reliable information on the scope of this problem or what causes financial institutions to exit some accounts.
To address this information gap, the World Bank Group, through the G20 Global Partnership for Financial Inclusion (GPFI) Sub-group on Markets and Payment Systems, has created different surveys for banks, money transmitters and governments of G20 countries that specifically address bank account closures of money transmitter accounts that could affect international remittance flows. The surveys contain a set of common questions and also more specialized questions geared to each type of survey participant’s particular perspectives.
The U.S. Department of Treasury, working with the World Bank, has asked ACAMS to assist with obtaining the broadest private sector input possible in order to make the collected data and analysis as accurate and robust as possible. This is a tremendous opportunity for the ACAMS membership!
The World Bank indicates that survey responses will be kept strictly confidential. Results will be presented in aggregate and responses will not be attributed to private sector entities or governments.
To take the survey, click on one of the following links:
- Money transmitters: http://amr.nebu.com/scripts/dubinterviewer.dll/frames?Quest=1187
- Banks: http://amr.nebu.com/scripts/dubinterviewer.dll/frames?Quest=1186
A few key points related to the surveys:
- You cannot leave the survey before finishing. If you do, the data will be lost and you will have to start the survey again from the beginning.
- The World Bank asks that respondents insert their contact details for quality control reasons, but your names and/or any other data input in the survey will not be revealed to any third party and will be handled confidentially only by the World Bank Group.
- Survey responses must be completed by July 10, 2015.