L0laL33tz on Nostr: nostr:note13hxu9zvjkt5htrx9yf9wvht9pmkgxmndlv00m5kyzm0trhnecr3q9kev8a

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note13hx…ev8a

GM, FATF has issued a new report claiming that „Virtual Assets are increasingly used by terrorist groups“.

The only problem: Their statement is directly contradicted in their own report and lacks any corroborating data to back it up, while highlighting that *a lack of data* – particularly for peer-to-peer transactions – remains a main challenge to FATF compliance.

Of course, that doesn’t stop FATF from recommending that all jurisdictions „act rapidly“ to implement the FATF Travel Rule, which requires ‚VASPs‘ and financial institutions to „obtain, hold, and transmit specific originator and beneficiary information immediately and securely when transferring Virtual Assets“ to address the „emerging and increasing risks“ which, again, cannot be corroborated by the report itself.

It is unbelievable that an organization with *such* low standards is being taken seriously at all, never mind allowed to guide the implementation of AML/CFT around the world.

Full Story:

https://www.therage.co/fatf-report-finds-virtual-assets-increasingly-used-by-terrorist-groups/