Financial exclusion continues to affect thousands of people throughout the world with an estimated 2 billion persons being unbanked across the globe. As anti-financial crime professionals, we may attempt to mitigate all our financial crime risks with the best intentions but how often do we really consider the full impact of our controls and how they affect those who vitally need access to the financial sector?
Those who were able to attend the FINTRAIL/ FinTech FinCrime Exchange conference last week (and listen to our panel on improving inclusivity in anti-financial crime) received a preview of the FinCrime Principles of Inclusion that we have been working on.
These principles have been developed with Tech Nation, as part of Finclusion 2021, with an aim to increase people's awareness around the challenges between financial crime prevention and financial inclusion whilst offering something practical for FinCrime professionals to reflect on when designing or assuring their anti-financial crime frameworks.
This is the first version of the principles and we would love your feedback for future versions. We would also like to thank those of who joined our working group and contributed to these principles.
This is one of many initiatives that have been conducted within November as part of Finclusion21. For more information do visit the Tech Nation website: https://technation.io/about-us/fintech-delivery-panel/finclusion-2021/
The FinCrime Principles of Inclusion can be downloaded via the button below.
