IMF – VIRTUAL ASSETS AND AML/CFT: SOME LEGAL AND PRACTICAL CONSIDERATION

On 14 October, the IMF published an edition of its Fintech Notes, which offer practical advice from IMF staff members to policymakers on important issues.  Despite the advantages, it says that virtual assets are susceptible to criminal abuse. Some of their features — in particular their varying degrees of anonymity or pseudonymity — raise new challenges for country authorities. Criminals have misused these features to facilitate fraud, theft, money laundering and terrorist financing, amongst other crimes.

https://www.imf.org/-/media/Files/Publications/FTN063/2021/English/FTNEA2021002.ashx

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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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