De-risking: Solutions

Short-term solutions:

Technological solution categories are varied (financial technology and regulatory technology) and can solve for problems related to financial access/transfers as well as for compliance demands (due diligence/accountability/transparency).

Long-term solutions:

  • Multi-stakeholder dialogue: roundtables with representatives from NPOs, government, the Financial Intelligence Agency, regulators and banks to raise awareness, understand mandates and find way forward
  • Creating safe payment channels, collaborating on a workable and safe licensing system and exploring ways for potential exemptions in the sanctions legal framework
  • Redress (via an ombudsperson, e.g.) and litigation (for violation of international conventions, privacy rules, e.g.)
  • Policy advocacy: making the link between financial inclusion (the 2 billion unbanked) and the financial exclusion of NPOs, with advocacy targets including the FATF, the G20 (and GPFI, the G20’s financial inclusion platform), and the Alliance for Financial Inclusion (AFI), among others.