AML / KYC

Cooperation between the FATF and United Nations will strengthen their ability to go after the money that funds terrorist groups, said Marcus Pleyer.

Russian state-owned firm Rostec said the blockchain-based platform will allow settlements in national currencies and eliminate the risk of sanctions.

The FATF also commends the UK for progress made to expand its FIU's ability to conduct operational analysis.

Mutual recognition of digital identity credentials is part of an agreement to cooperate on the digital transformation of government services.

Limited actions to amend bank secrecy laws present risks to the Philippines. Casinos, the gaming industry, and crypto exchanges are flagged as risky.

Japan's organised crime law currently only allows seizures of real property, movable assets and monetary claims, but not crypto assets.

The report offers guidance on the use of technology for investigations, risk assessment, and AML/CFT information exchange.

To date, only the purchase of new issues has been prohibited, and trading in secondary markets has still been allowed.

BNM will take supervisory and enforcement actions against banks that fail to protect their customers from fraud risk.

The paper says the US should help foreign nations develop the tools, technical expertise, and infrastructure necessary to conduct complex crypto-related investigations.