Report on the G20 Survey on De-Risking Activities in the Remittance Market

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The GPFI requested the World Bank Group to undertake a survey amongst G20 countries on the effect of banks’ de-risking actions on the scale and scope of account closures of money transfer operators. The relatively low response rate from the private sector participants impaired some generalised observations, but the de-risking phenomenon was confirmed, although more evident in some jurisdictions than in others. The report, endorsed by G20 Leaders in November 2015 in Antalya, examines the impact on remittance service providers and provides a set of recommendations to deal with the situation.