FATF Panel: Virtual assets and financial crime: Building an effective global regime to mitigate the risks
Sep 22, 2021 | 12:00 PM - 1:15 PM
Sep 22, 2021 | 12:00 PM - 1:15 PM
Description
In 2019, the Financial Action Task Force (FATF) changed its global Standards to place clear anti-money laundering and countering the financing of terrorism (AML/CFT) obligations on virtual assets and their service provider. These Standards are only effective if countries and the private sector are implementing these Standards in practice.
While there has been progress, the lack of effective regulation is allowing for jurisdictional arbitrage and the raising of money laundering and terrorist financing risks. This session will focus on the progress the global community has made in implementing the FATF Standards and the areas where more progress is needed.
