This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
Library
Rapid Account Opening in a Pandemic: How to Meet AML/CFT Rules for Social Assistance Payments
Topic : Risk Management
Governments and funders worldwide are responding to the severe economic blow from the COVID-19 pandemic by delivering social assistance payments to families and individuals. Increasingly, they are turning to digital delivery for disbursements, which has accelerated the demand for financial services providers (FSPs) to be able to open formal financial accounts rapidly and with minimal or zero physical contact with customers. This Briefing provides guidance for those designing and deploying social assistance payments to help them work with financial sector regulators and implement social assistance payments that facilitate rapid, remote account opening in compliance with anti-money laundering and counter-financing of terrorism (AML/CFT) rules.
- Resource type Brief
- OrganisationCGAP
- Year of Publication2020
- RegionGlobal
- LanguageEnglish
- Keywords Anti-Money Laundering (AML), Coronavirus (COVID-19)