September 15, 2020 | Press Releases
FATF Report on ML/TF Red Flag Indicators Associated with Virtual Assets
As of the 14th September 2020, the Financial Action Task Force published a report that focuses on money laundering and terrorist financing red flag indicators associated with virtual assets. This report, based on more than 100 case studies collected by members of the FATF Global Network, highlights the most important red flag indicators that could suggest criminal behaviour in relation to virtual assets. The report discusses key indicators to do with:
- Technological features
- Geographical risks
- Transaction patterns
- Transaction size
- Sender or recipient profiles
- Source of funds or wealth
This report will assist virtual asset service providers, financial institutions, and designated non-financial businesses and professions, and other reporting entities to detect and report suspicious transactions associated with virtual assets.
To access the FATF report, click here: http://www.fatf-gafi.org/publications/fatfrecommendations/documents/Virtual-Assets-Red-Flag-Indicators.html