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  • FSI Insights on Policy Implementation No 18. Suptech Applications for Anti-money Laundering

    FSI Insights on Policy Implementation No 18. Suptech Applications for Anti-money Laundering

    Use by financial authorities of advanced data collection and analytics tools enabled by new technologies is collectively called suptech. In the area of data analytics, the development of such tools […]

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  • The EU AML/CFT List of High-Risk Third Jurisdictions: Implications and Options for The Bahamas

    The EU AML/CFT List of High-Risk Third Jurisdictions: Implications and Options for The Bahamas

    This Policy Brief argues that inclusion on any future adopted European Union (EU) AML/CFT list of high-risk third jurisdictions would be problematic for The Bahamas for three main reasons. First, […]

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  • Beyond KYC Utilities: Collaborative Customer Due Diligence for Financial Inclusion

    Beyond KYC Utilities: Collaborative Customer Due Diligence for Financial Inclusion

    Private Companies and the Public Sector, separately and together, are increasingly leveraging new collaborative approaches to help financial services providers (FSPs) meet international customer due diligence (CDD) requirements. To overcome […]

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  • Strategic Solutions to De-Risking and the Decline of Correspondent Banking Relationships in the Caribbean.

    Strategic Solutions to De-Risking and the Decline of Correspondent Banking Relationships in the Caribbean.

    This paper focuses primarily on solutions and mitigants to the problems arising from restriction of financial services and withdrawals of correspondent banking relationships (CBRs) which is popularly known as “de-risking” […]

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  • IMF Working Paper – Understanding Correspondent Banking Trends: A Monitoring Framework

    IMF Working Paper – Understanding Correspondent Banking Trends: A Monitoring Framework

    The withdrawal of correspondent banking relationships (CBRs) remains a concern for the international community because, in affected jurisdictions, the decline could have potential adverse consequences on international trade, growth, financial […]

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  • Recent Trends in Correspondent Banking Relationships – Further Considerations

    Recent Trends in Correspondent Banking Relationships – Further Considerations

    Correspondent banking relationships (CBRs), which facilitate global trade and economic activity, have been under pressure in several countries. So far, crossborder payments have remained stable and economic activity has been […]

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  • IMF Working Paper – Loss of Correspondent Banking Relationships i n the Caribbean: Trends, Impact, and Policy Options.

    IMF Working Paper – Loss of Correspondent Banking Relationships i n the Caribbean: Trends, Impact, and Policy Options.

    A correspondent banking relationship (CBR) is a bilateral arrangement between banks, often involving a reciprocal cross-border relationship in multiple currencies. According to Erbenova et al. (2016), a correspondent banking arrangement […]

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  • Prospects for Blockchain-based Settlement Frameworks as a Resolution to the Threat of De-risking to Caribbean Financial Systems

    Prospects for Blockchain-based Settlement Frameworks as a Resolution to the Threat of De-risking to Caribbean Financial Systems

    Caribbean countries have been seriously impacted by the trend toward “de-risking” in the global financial system, and this is damaging to their economic security and the ability of Caribbean businesses […]

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  • Considerations for Legal Practitioners on De-Risking in the Caribbean

    Considerations for Legal Practitioners on De-Risking in the Caribbean

    There has been a recent trend for large international correspondent banks to restrict or terminate their correspondent banking relationships (CBRs) with certain regional respondent banks1, to “avoid, rather than manage, […]

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