Conference on Finance, Fintech, and the Future of Banking in the Caribbean Basin Focuses on the Problems of De-risking

On October 5-6, 2016, a conference at the Organization of American States (OAS) discussed the effort to fight against money-laundering and the financing of terrorism, a global problem with financial services institutions, responsible for implementing the procedures to ensure that they are in compliance with international regulatory regimes.  Increasingly caught in the cross-fire are emerging market economies like those of the Caribbean, where the perception of risk and small market sizes have in some cases resulted in the withdrawal of correspondent banking relationships and other critical services associated with trade and remittances, ultimately impacting negatively the important tenet of financial inclusion.