Making Remittances Work: Balancing Financial Integrity and Inclusion

Todoroki, Emiko; Noor, Wameek; Celik, Kuntay; Kulathunga, Anoma

doi:10.1596/978-1-4648-0109-9

Cited by 6 publications

(5 citation statements)

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“…14 Overall, the global average total cost was around 7.7 percent and shows a declining trend. The relatively high costs relate in part to limited competition, Anti-Money Laundering and Combatting Funding of Terrorism (AML/CFT) regulatory restrictions, and the impact of potential penalties on transfer operators that further limit entry into the remittance market (Todoroki et al 2014).…”

Section: Impacts Of Remittance Methods On Financial Inclusionmentioning

confidence: 99%

Bringing E-money to the Poor: Successes and Failures

Riley¹,

Kulathunga²

2017

Self Cite

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now retired, was sector coordinator and lead specialist of the World Bank's Finance and Markets Global Practice, South Asia region. Over a 30-year career at the World Bank, she served in several corporate management, knowledge management, and lead financial sector specialist positions in several regions of the world, including Africa, Latin America and the Caribbean, and Middle East and North Africa. As the knowledge manager for the Micro, Small Enterprise, and Rural Finance Thematic Group, she led knowledge-sharing engagements that brought together leading international microfinance practitioners with African country leaders, policy makers, and donors interested in learning from the bestpractitioners themselves. Riley also led several projects and knowledge-sharing engagements with the South African government during the postapartheid development of the country's policy framework for micro and small enterprises. She has written extensively about lessons learned from high-impact development interventions, focusing on approaches that have mainstreamed access by the poor to financial services through innovative means including traditional microfinance and digitally enabled financial services. She was a visiting fellow in finance at the Sloan School of Management, Massachusetts Institute of Technology. Riley holds a bachelor's degree in development economics from Stanford University and a master's degree in public and international affairs from Princeton University.

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Section: Impacts Of Remittance Methods On Financial Inclusionmentioning

confidence: 99%

Bringing E-money to the Poor: Successes and Failures

Riley¹,

Kulathunga²

2017

Self Cite

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“…The review of previous studies on IFT systems from the perspective of routine activity theory shows that IFT activities are generally associated with four factors: Migration (offenders), access to formal financial institutions (targets), AML/CFT systems in place (guardians), and societal attitudes towards the informal economy (motivation and capability;FATF, 2013c;Freund & Spatafora, 2008;Todoroki et al, 2014). According to many studies on IFT systems, the primary customers of IFT systems are expatriate workers 6 , and IFT brokers are compatriots of IFT users.…”

Section: Variablesmentioning

confidence: 99%

“…Even after suspicions were laid to rest through the discovery of Al-Qaeda accounts with formal financial institutions that appeared to have funded the terrorist attacks (Van de Bunt, 2008), many law enforcement professionals and crime scholars continue to regard the connection between unauthorised remittance networks and transnational organised crime and terrorism as highly probable (Cooper & Walker, 2016;Levi, 2010;McCusker, 2005;United States General Accounting Office, 2003). Some scholars, on the other hand, focused on the contribution of unauthorised remittance networks to economic development in developing countries (El-Qorchi et al, 2003;Todoroki et al, 2014). This illegal cross-border remittance channel was first called an underground banking system and later termed as an informal value transfer system (Passas, 1999) or an informal fund transfer (IFT) system (Hernandez-Coss, 2005;World Bank, 2006).…”

Section: Introductionmentioning

confidence: 99%

Mapping hawala risks around the world: the use of a composite indicator

Han

Leeuw²,

Nelen

2022

Global Crime

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published version features the final layout of the paper including the volume, issue and page numbers. Link to publication General rightsCopyright and moral rights for the publications made accessible in the public portal are retained by the authors and/or other copyright owners and it is a condition of accessing publications that users recognise and abide by the legal requirements associated with these rights.• Users may download and print one copy of any publication from the public portal for the purpose of private study or research. • You may not further distribute the material or use it for any profit-making activity or commercial gain • You may freely distribute the URL identifying the publication in the public portal.If the publication is distributed under the terms of Article 25fa of the Dutch Copyright Act, indicated by the "Taverne" license above, please follow below link for the End User

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“…Migrant remittances constitute ever-expanding 'markets of devotion' (Todoroki et al 2014) driven by the motivations of diasporic members to maintain connections with their families and friends. Indeed, financial obligations are in many cases the glue that holds the transnational networks together.…”

Section: Social Embeddedness Of Crypto-remittance Networkmentioning

confidence: 99%

Virtualizing diaspora: new digital technologies in the emerging transnational space

Rodima‐Taylor

Grimes

2018

Global Networks

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Since new distributed ledger technologies hold out a promise to restructure cross‐border flows of people and material resources, they affect globalization and alter transnational spaces. Their capacity to facilitate secure and disintermediated value transfer through crypto‐code and smart contracts enables novel forms of remittance transfer, resource management and digital identity verification – and may also generate new vulnerabilities. In this article, we examine the use of emerging blockchain applications in various migration and diaspora related initiatives in the emerging economies of Africa, Asia and Europe. By building on existing social networks of mutual obligation and quasi‐ethnic affinities, blockchain technologies may facilitate the ability to enlarge the scope of diasporas and change the nature of belonging, sovereignty, migration and statehood. Through exploring the selective foregrounding of mutuality and materiality in such alternative value transfer systems, we seek to explain the dynamics of trust and agency that these networks generate to extend commitments and loyalties in the transnational space.

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Making Remittances Work: Balancing Financial Integrity and Inclusion

Cited by 6 publications

References 0 publications

Bringing E-money to the Poor: Successes and Failures

Bringing E-money to the Poor: Successes and Failures

Mapping hawala risks around the world: the use of a composite indicator

Virtualizing diaspora: new digital technologies in the emerging transnational space

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