Challenges in Correspondent Banking in the Small States of the Pacific

Sign up to receive free e-mail notices when new series and/or country items are posted on the IMF website. MODIFY YOUR PROFILE Author/Editor: Jihad Alwazir ; Fazurin Jamaludin ; Dongyeol Lee ; Niamh Sheridan ; Patrizia Tumbarello Publication Date: April 7, 2017 Electronic Access: Free Download. Use the free Adobe Acrobat Reader to view this PDF file Disclaimer: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management. Summary: Access to financial services in the small states of the Pacific is being eroded. Weaknesses in Anti-Money Laundering and Combating the Financing of Terrorism compliance in the context of high levels of remittances are contributing to banks’ decisions to withdraw corresponding banking relationships and close bank accounts of money tra

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