The Financial Action Task Force (FATF) has updated its Guidance on Financial Inclusion and Anti-Money Laundering measures to help countries and the private sector expand access to formal financial services while maintaining risk-based controls. The guidance links financial inclusion to effective detection of illicit activities, emphasizing that increased access improves transparency and law enforcement’s ability to track crime. FATF President Elisa de Anda Madrazo highlighted that financial exclusion mainly affects vulnerable groups facing barriers like high costs or lack of documentation, despite their low risk. Read more here.
Source: FATF
