Approaches to a Regulatory Framework for Formal and Informal Remittance Systems: Experiences and Lessons
Feb 17, 2005 | C.S. Lee, M. Bökkerink, J. Smallwood et al. | IMF
This paper reviews the experience of a sample of countries that have issued specific regulations to implement the FATF recommendations and presents some lessons for implementing a regulatory framework applicable to remittance systems. By presenting and analyzing what is known about current practices in certain countries, this paper aims to provide preliminary operational guidance for countries that intend to adopt a regulatory framework for remittance systems.