FATF says 'negligible' progress on virtual assets AML implementation in last year

A Financial Action Task Force (FATF) paperhas warned that governments are failing to strengthen anti-money laundering/counter financing of terrorism (AML/CFT) controls on virtual assets and virtual asset service providers (VASPs), with only 25% of those surveyed fully or largely compliant with FATF guidance.

By Keith Nuthall

A Financial Action Task Force (FATF) paperhas warned that governments are failing to strengthen anti-money laundering/counter financing of terrorism (AML/CFT) controls on virtual assets and virtual asset service providers (VASPs), with only 25% of those surveyed fully or largely compliant with FATF guidance. [1]