Başlık:
International remittances : background, verification rroposals, and money laundering ıssues
Yazar:
Slaton, Cameron, editor.
ISBN:
9781536101584
Fiziksel Tanımlama:
vii, 133 pages : illustrations ; 23 cm.
Seri:
Monetary, fiscal and trade policies series.
İçerik:
Preface; Chapter 1; Remittances: Background and Issues for Congress*; Summary; Introduction; Background; Global and U.S Remittance Flows; The U.S. Remittance Marketplace; Money Service Businesses (MSBs); Traditional Financial Institutions; Mobile and other Emerging Payment Systems; Regulation of Remittance Providers; International Standards and Principles; U.S. Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) Efforts; Consumer Protection; State-Licensing of Remittance Providers; "Dodd-Frank" Measures; Remittances and U.S. Development Policy Promoting Economic DevelopmentIncreased Access to Financial Services; Issues for Congress; Regulation of Remittances; Promoting Remittances as a Development Tool; Remittances and U.S. Immigration Policy; End Notes; Chapter 2; International Remittances: Actions Needed to Address Unreliable Official U.S. Estimate*; Why GAO Did This Study; What GAO Recommends; What GAO Found; Abbreviations; Background; Potential Effect of a Fine on Remitters without Legal Status Is Uncertain and Depends on a Variety of Factors Several Factors Could Affect the Amount of Revenue Generated from a Proposed Fine on Remitters without Legal Status, as Hypothetical Scenarios ShowProposed Legislation Raises Other Issues for CFPB; A Requirement for Proof of Legal Status or Payment of a Fine Would Also Affect Providers; BEA Does Not Follow Best Practices for Estimating Remittances, Leading to an Unreliable Estimate; BEA's Estimates of Remittances from the United States; BEA Changed Its Remittance Estimation Methodology in 2012 to Incorporate New Data on Reported Remittances BEA's Methodology Resulted in Unreliable Estimates, Partly Due to its Failure to Follow Best Practices and Guidelines for Federal Statistical AgenciesBEA Did Not Follow Its Own Best Practices for Documenting Its Procedures; BEA's Methodology Resulted in Unreliable Estimates; BEA Does Not Regard Its Remittance Estimate as Influential; Conclusion; Recommendations for Executive Action; Agency Comments and Our Evaluation; Appendix I: Objectives, Scope, and Methodology; End Notes; Chapter 3 International Remittances: Money Laundering Risks and Views on Enhanced Customer Verification and Recordkeeping Requirements*Why GAO Did This Study; What GAO Found; Abbreviations; Background; Remittance Transfer Methods; Other Methods of Remittance Transfers; Money Laundering; Federal and State Oversight of Financial Institutions; Bank Secrecy Act Requirements and Compliance-Related Challenges; Money Transmitters and Depository Institutions Are Subject to Similar BSA Requirements; AML Program Requirements; Reporting Requirements; Recordkeeping and Identity Verification
Özet:
his book focuses on remittances, transfers of money and capital sent by migrants and foreign immigrant communities to their home country. At over $432 billion in 2015, remittances sent home by international migrants to developing countries is larger than official development assistance (ODA) and more stable than private capital flows to these countries. The United States is the largest destination for international migrants and by far the largest source of global remittances. The World Bank estimates $56.3 billion in official remittance outflows from the United States in 2014. As the market for remittances has ballooned, banks, traditional money transfer companies, and entrepreneurs have responded to increased demand by increasing the amount of remittance channels available to migrants, including mobile, Internet, and card-based options. This book also examines the potential effects of a fine on remitters unable to provide proof of legal immigration status; the Bureau of Economic Analysis' (BEA) remittance estimate and the extent to which its revised estimation methodology met government-wide policies and best practices; the Bank Secrecy Act (BSA) remittance requirements that exist for remittance providers and related challenges that remittance providers face in complying with these requirements; money laundering risks that remittances pose; and stakeholders’ views on the extent to which requiring remittance providers to verify identification and collect information at a lower dollar transaction amount than is currently required, or adding a requirement to verify legal immigration status, would assist federal agencies’ anti-money laundering (AML) efforts. (Imprint: Novinka)
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Library | Materyal Türü | Demirbaş | Yer Numarası | Durumu / Lokasyon / İade Tarihi |
|---|---|---|---|---|
Arıyor... | Kitap | EKOBKN0007848 | 332.04246 INT 2016 | Arıyor... |