Beschreibung:
Global efforts to counter terrorism financing and money laundering have led banks to terminaterelationships with some communities, businesses, and individuals around the world. When a financialinstitution or intermediary cannot easily judge the identity and associated risks of a customer, it is often more efficient to avoid transacting with that customer altogether. This may disproportionately affect small banks, small firms, and low-income individuals in emerging and developing economies. This Compass Note explores an innovative solution that could help improve customer due diligence through a Know-Your-Customer (KYC) utility