FATF WARNS THAT GOVERNMENTS ARE FAILING TO IMPOSE VASP AML RULES
June 21st, 2023
The June plenary of the Financial Action Task Force (FATF), which wound up today (Friday June 23), has warned that almost 75% of jurisdictions worldwide are failing to implement its AML standards on virtual assets and virtual asset service providers (VASPs). They are only partially-compliant or not-compliant with FATF’s requirements. “Many jurisdictions have not yet implemented fundamental requirements, and more than half of survey respondents have not taken any steps towards implementing the ‘Travel Rule’, a key FATF requirement to prevent funds being ...
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