Emma RadmoreFSB has published a World Bank/IMF report which proposes a draft methodology for and framework for assessing remittance corridors which could be considered “safe”, in an effort to improve cross-border payment services. The report says that remittances are the lifeblood for families of migrant workers and though remittances may pose ML/TF risks, they shouldn’t all be treated as inherently higher risk. A corridor risk assessment would assess and understand the risks of remittances in a corridor, and could simplify AML/CTF measures in lower risk situations.
