The Financial Action Task Force (FATF), an inter-governmental body developing and promoting policies to combat money laundering and terrorist financing, has recommended the use of biometric security.FATF announced on 22 March 2017 that it has been discussing the use of biometric technology and centralised databases as part of identity verification.Other technologies it wants to explore include the development of artificial intelligence and machine learning towards more effective monitoring and screening systems for suspicious financial activity.As part of its its annual Private Sector Consultative Forum, the body also said biometrics can help with financial inclusion.Participants heard from financial inclusion initiatives in different countries, including in India. They discussed publicly-sponsored central databases of basic information on people's identity, authenticated through biometrics or fingerprints.”These tools can help financial institutions conduct the basic CDD steps to establish relationships with undocumented people, and play a key role for financial inclusion. Discussions also highlighted products and services, including e-wallets and mobile payments, serving specific needs of unbanked people. “
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