Articles on bank remittances

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Pushing money remitters out of the market is only likely to increase the risks of money laundering and terrorist financing. Shutterstock

Lack of real action on remittances increases terrorist financing risk

Globally migrant communities will send nearly US$435 billion to family members in home countries this year. These remittances are vital and sustain not only the livelihoods of the recipients, but also…
Millions of people around the world rely on money transfer operators to send funds to their families. Gregory Wake/Flickr

Bankers are about to ensure money transfers go underground

Next week, Australian bank Westpac will become the last of the big four banks to stop serving money transfer operators, amid concerns about breaching laws on money laundering and terrorist financing. There…

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