Anti-Money Laundering Compliance and Financial Inclusion: A Technical Analysis of Sub-Saharan Africa
1 Henry Jackson Foundation Medical Research International Ltd/GTE, Nigeria.
2 Financial analyst, Texas USA.
Review Article
GSC Advanced Research and Reviews, 2024, 19(03), 336–343.
Article DOI: 10.30574/gscarr.2024.19.3.0235
Publication history:
Received on 14 May 2024; revised on 26 June 2024; accepted on 28 June 2024
Abstract:
This review paper examines the intersection of Anti-Money Laundering (AML) compliance and financial inclusion in Sub-Saharan Africa. It analyzes the impact of AML regulations on access to financial services, the financial burden on institutions, and the effectiveness of risk-based approaches. Policy recommendations focus on balancing AML requirements and inclusion objectives, enhancing regulatory and institutional capacities, and fostering innovation and collaboration. The future outlook considers technological advancements and regulatory trends shaping the region's AML regulation and financial inclusion dynamics.
Keywords:
Anti-Money Laundering; Financial inclusion; Sub-Saharan Africa; Regulation; Capacity building; innovation
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Copyright © 2024 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution Liscense 4.0
