FATF
The Financial Action Task Force has issued a report highlighting stablecoins as the primary vehicle for illicit cryptocurrency transactions, accounting for the majority of suspicious volumes in recent years. The watchdog points to their use by actors in sanctioned countries like Iran and North Korea for sanctions evasion and money laundering. It calls for enhanced regulatory measures to address these risks.
Iniulat ng AI
The United Arab Emirates has strengthened its anti-money laundering measures in the real estate, precious metals, and cryptocurrency sectors in preparation for an upcoming Financial Action Task Force inspection. Authorities have imposed fines totaling AED 130 million on designated non-financial businesses and professions since 2022. New customer due diligence requirements aim to prevent compliance issues in related services.