FATF METHODOLOGY FOR ASSESSING COMPLIANCE WITH THE FATF RECOMMENDATIONS AND THE EFFECTIVENESS OF AML/CFT SYSTEMS

On 30th October, FATF issued an updated Methodology covering how it (and regional FATF-style bodies) carries out its mutual evaluations.  The amendments made are connected to assessments relating to virtual assets and their providers, and are detailed on page 179 of the guidance, including –

  • a new paragraph and footnote to provide guidance on how to assess requirements relating to virtual assets and virtual asset service providers;
  • the addition of references to virtual assets and virtual asset service providers; and
  • the addition of further guidance on how to assess requirements relating to virtual assets and virtual asset service providers and new criteria to reflect the amendments to the FATF Standards.

http://www.fatf-gafi.org/media/fatf/documents/methodology/FATF%20Methodology%2022%20Feb%202013.pdf

This blog is primarily for my own use, to keep informed and up to date. However, if you would like to say thank you (and perhaps help me get a new, better laptop when I am away…) you can “buy me a coffee” at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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