AML at the centre of FATF’s new exploratory projects

The Financial Action Task Force (FATF) has initiated new exploratory projects which will take the form of questionnaires, seeking solutions and best practices in response to the increasing risk of money laundering in the technological sector.

The first study is called “Opportunities and Challenges of New Technologies for AML/CFT” and examines practical cases and innovative solutions able to tackle existing and future potential challenges.

The second research is a stocktake on “Data Pooling, Analysis and Data Protection”. With this, FATF acknowledges emerging technologies to share/pool/exchange information amongst financial institutions for AML/CFT purposes and seeks to better exploit them without negatively impacting data privacy and protection.

Responses to these questionnaires will need to be submitted by experts  by 7th  December 2020.