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About this Video

After 9/11, our efforts to strengthen financial system integrity led to greater protections and enhanced global standards to combat illicit finance–including terrorist financing, drug money laundering, weapons proliferation financing, and the theft of sovereign assets by kleptocrats. But, growing risk management and compliance requirements have also led to wide-spread ‘de-risking’– or de-banking of individuals and entities considered “high compliance risk,” with disproportionate impact to certain constituencies: low/moderate income, immigrant communities, the hundreds of millions globally without verifiable identity or credit history, and certain types of businesses like money services, remittance companies, fin-tech and international correspondent banks. While we have made it harder, costlier, and riskier for illicit actors, we have also made it more difficult for well intentioned, legitimate actors to maintain financial engagement. As overall financial health and literacy for so many remain challenged, many are relegated to alternative financial services, that often (not always) can reinforce poor financial behavior and exacerbate their poor financial condition. Greater inclusion leads to greater access and empowerment, and greater transparency of financial flows and stronger economic resilience — for households, communities, our financial system, and for our collective national security.

About the Speaker

Amit Sharma

Amit Sharma

Amit Sharma advises companies in social enterprise development, corporate “impact” strategy, and risk management. He is working to develop a digital financial services platform–FinClusive Capital–for those underserved and/or excluded from the financial system, leveraging technology and advanced analytics to drive financial inclusion, build economic resilience and protect financial system integrity. Previously, he led Operations and Strategy for Command Global Services (CGS), managing a team of investigators, financial forensic experts, analysts and legal professionals in the recovery of stolen sovereign assets and strengthening of financial regulatory systems. Prior to CGS, he was Chief of Staff and Head of New Products for Mitsubishi UFJ Securities, USA, and also Head of Project Management to the firm’s International Business and Global Markets Units. In Washington DC, Amit served at the US Department of the Treasury, first in the Office of Terrorism and Financial Intelligence—developing and implementing tools to combat transnational threats and financial crime—and later as Chief of Staff to Deputy Secretary Robert Kimmitt and part of Treasury’s senior team under Secretary Henry Paulson. Amit has served/serves on several working groups, advisory councils and boards, including: IntegrityRisk International, Evidencity, the Center for Global Development (CGD), the Center for Sanctions and Illicit Finance (CSIF), Middlebury’s Center for Social Impact Learning (CSIL) and Georgetown University’s Beeck Center for Social Impact and Innovation. He was a Peace Corps volunteer in Mongolia, and makes Guilford, Vermont his home where he enjoys farming and making hard cider. Amit holds an MBA and MA from the Monterey Institute of International Studies and a BA from the University of Virginia.