FATF SAYS VASP AML REFORMS HAVE HALTED IN PAST YEAR
July 22nd, 2024
A Financial Action Task Force (FATF) paper has warned that governments are failing to increase AML/CFT controls on virtual assets and virtual asset service providers (VASPs), with only 25% of those surveyed fully or largely compliant with FATF guidance (1).
Of these 130 jurisdictions assessed under the latest mutual evaluation reports and follow up checks, the 75% proportion of those partially or not compliant with FATF recommendation 15 on VASPs and other new tech, “is identical to that of April 2023...and shows negligible improvement,” said FATF.
Its ...
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