Financial Action Task Force

Cryptocurrency

Digital Asset Developments in South Korea: Balancing Innovation and Risk

By Rahul Advani | 15/03/2023

South Korea’s thoughtful approach to regulating digital assets will foster growth and innovation and result in a more vibrant and inclusive digital economy, say Rahul Advani and Angela Ang.

Anti-Money Laundering

FATF Finalises Revisions to Recommendation 24 Guidance

By Editors | 13/03/2023

The guidance will assist policymakers and practitioners to prevent bad actors from using shell companies for illicit activity.

Anti-Money Laundering

FATF Explores Financial Crime Risks in Art and Antiquities Markets

By Mark Johnston | 03/03/2023

New report highlights the need for greater awareness and understanding of the risks and collaboration across public and private sectors.

Cryptocurrency

FSB-IMF Paper to Support Global Policy Approach to Crypto

By Editors | 03/03/2023

An “IMF-FSB Synthesis Paper” due to be published in September will support a “coordinated and comprehensive policy approach to crypto-assets”.

Anti-Money Laundering

FATF Agrees Roadmap to Strengthen Adoption of Crypto AML Standards

By Editors | 28/02/2023

The roadmap will include a stocktake of steps taken globally to regulate and supervise virtual asset service providers.

PEPs & Sanctions

New G7 Sanctions Target Russian Financial Services, Evasion Networks

By Manesh Samtani | 27/02/2023

US Treasury says sanctioned actors use smaller banks and wealth management firms to evade sanctions. FATF has suspended Russia’s membership.

Anti-Money Laundering

FATF Adds South Africa, Nigeria to Grey List

By Editors | 25/02/2023

The South African Reserve Bank said it has a zero-tolerance approach to abuse of the financial system by money launderers or terrorist financiers.

Supervision & Enforcement

FATF Suspends Russia’s Membership Over Ukraine War

By Editors | 25/02/2023

Russia’s actions “unacceptably run counter” to the FATF core principles aiming to promote security, safety, and the integrity of the global financial system.

Anti-Money Laundering

Hong Kong Re-rated on Two FATF Recommendations

By Manesh Samtani | 20/02/2023

Hong Kong was upgraded for extending AML/CFT supervision to most DNFBP sectors, but downgraded for virtual asset-related deficiencies.