Improving AML/CFT Regulatory Frameworks to Increase Remittance Flows in the IGAD Region

This brief note is intended to be used by regulators and public authorities to improve policies, regulatory frameworks, and market and collaboration practices to enhance the flow of remittances in the Intergovernmental Authority on Development (IGAD) region. It looks at the key area of AML/CFT regulatory frameworks and may help supply-side stakeholders, especially remittance service providers (RSPs), streamline their customers’ onboarding rules to help minimize migrants’ reliance on informal remittances and their increasing vulnerability to sources of money laundering and the financing of terrorism.