#QuickBiteCompliance Day 4
Have you ever wondered about the Alternative Remittance System (ARS)? Also known as Underground Banking or Informal Value Transfer Systems (IVTS), it is commonly linked to ethnic groups from the Middle East, Africa, or Asia. ARS facilitates value transfers between countries outside the formal banking system, where transactions occur through coded information via various communication channels.
Learn more about ARS and its implications in global finance here: https://www.acams.org/en/resources/aml-glossary-of-terms#a-9799feca
#InclusiveRegtech #AlternativeRemittanceSystem #ARS
