Virtual Assets

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English

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The FATF's focus on virtual assets

Blockchain, bitcoin, crypto assets, virtual currencies…a whole new vocabulary describing innovative technology to swiftly transfer value around the world. The fast-evolving blockchain and distributed ledger technologies have the potential to radically change the financial landscape. But, their speed, global reach and above all - anonymity - also attract those who want to escape authorities’ scrutiny.

Blockchain originated just over 10 years ago. Since then, virtual assets have become widely available and have started to be used as payment products. However, without established regulation and oversight, the sector is often still referred to as the “wild west” of the finance industry.

Virtual Assets Red Flag Indicators of Money Laundering and Terrorist Financing

The FATF has identified red flag indicators that will help detect whether virtual assets are being used for criminal activity. It will help private sector detect and report suspicious transactions and provide useful information for financial intelligence units, law enforcement agencies, prosecutors and regulators to analyse suspicious transaction reports or monitor compliance with anti-money laundering and counter-terrorist financing controls.

Virtual Assets

The FATF has been closely monitoring developments in the cryptosphere and has issued global, binding standards to prevent the misuse of virtual assets for money laundering and terrorist financing.

Virtual Assets Red Flag Indicators of Money Laundering and Terrorist Financing

14 Sep 2020

The FATF has identified red flag indicators that will help detect whether virtual assets are being used for criminal activity. It will help private sector detect and report suspicious transactions and provide useful information for financial intelligence units, law enforcement agencies, prosecutors and regulators to analyse suspicious transaction reports or monitor compliance with anti-money laundering and counter-terrorist financing controls.

Money laundering risks from “stablecoins” and other emerging assets

18 Oct 2019

FATFs work on regulating virtual assets and monitoring the risks posed by emerging "stablecoins" to ensure the FATF Standards remain relevant and responsive.