The growing adoption of stablecoins and other virtual assets (VAs) “could amplify illicit finance risks,” the Financial Action Task Force (FATF) said Thursday (June 26). The use of stablecoins by North Korean agents, terrorist financiers, drug traffickers and other illicit actors has grown over the...
The Financial Action Task Force (FATF) has updated its list of countries with financial-crime-prevention deficiencies. The international body announced after its meeting this week that it had added the British Virgin Islands and Bolivia to its list of “Jurisdictions Under Increased Monitoring.” According to an...
Each year, money launders funnel $2 trillion in ill-gotten gains into the financial system. And a lot of that money travels by air, in cash, often in people’s suitcases, The Wall Street Journal (WSJ) reported Sunday (April 21). The report cited figures from the United...
As of last June, most of the world’s governments hadn’t begun regulating the cryptocurrency sector. That’s according to a new report by the Financial Action Task Force (FATF), whose president told CoinDesk Thursday (March 28) that this low level of response — with under 30% of...
November 20, 2019
Among the biggest problems for cryptocurrency — if not the biggest — is legitimacy. The world seems to be divided into two camps, at least when speaking generally: Those who think bitcoin and other digital currencies provide the promise of transactional efficiency in the coming year, and those who view cryptocurrency as mainly a way […]
November 13, 2019
The timing seems about right. As a brand-new decade looms – one that promises great strides for digital payments and commerce – digital ID, already on the ascent, is getting...
September 14, 2026
Fraudsters are reportedly trading massive scam operations for smaller and more profitable schemes using artificial intelligence (AI). That’s according to Giles Thomson, president of the Financial Action Task Force (FATF), who outlined the fraud landscape in a Monday (Sept. 14) interview with the Financial Times. As the report notes, fraudsters have for years used giant compounds housing hundreds of workers […]
June 26, 2025
The growing adoption of stablecoins and other virtual assets (VAs) “could amplify illicit finance risks,” the Financial Action Task Force (FATF) said Thursday (June 26). The use of stablecoins by...
June 24, 2025
The Financial Action Task Force (FATF) has updated its list of countries with financial-crime-prevention deficiencies. The international body announced after its meeting this week that it had added the British...
April 21, 2024
Each year, money launders funnel $2 trillion in ill-gotten gains into the financial system. And a lot of that money travels by air, in cash, often in people’s suitcases, The...