Financial Services Sector (+...)

Bangkok Blueprint for Fraud-Resilient Financial Services This event launched the Bangkok Blueprint, a high-level framework for tackling cyber-enabled fraud through a whole-of-ecosystem approach. The World Bank Group and the IMF, in partnership with the Bank of Thailand, has developed 12 Key Considerations to guide policy alignment, global dialogue, and future action. https://www.worldbank.org/ext/en/topic/financial-sector Sound financial systems underpin economic growth and are crucial to the World Bank Group’s mission of eradicating poverty. Deep, liquid capital markets fund the investment required to support economic expansion, jobs, human capital, and infrastructure. 1.3 billion people around the world still lack access to financial accounts, despite rapid advances in digital financial services and mobile phone banking. Financial stability gives people the confidence to save and invest money, and allows robust banking systems and capital markets to support productivity by efficiently channeling funds toward their most productive uses and quickly move payments securely domestically and across borders. A healthy financial system helps governments raise capital and maintain social safety nets. Good access to finance enables people to thrive and better manage their family’s needs for food, shelter, healthcare, and education. It allows them to manage risks and start businesses.