A new paper from Royal United Services Institute has identified that financial exclusion stemming from the implementation of the FATF framework is just one of the many barriers that keep 1.7 billion people around the world out of the formal financial system. Given that FATF standards are used by regulators as well as Financial Institutions, firms should ensure they implement the standards in a way which fosters financial inclusion, while remaining in compliance with local law.

https://static.rusi.org/267_op_gates_financial_inclusion.pdf