Global Anti Money Laundering refers to the international efforts and regulations designed to prevent illicitly obtained funds from being disguised as legitimate assets. This framework involves a coordinated approach among nations, financial institutions, and regulatory bodies. It aims to disrupt financial flows supporting criminal enterprises and terrorism worldwide.
Context
The application of Global Anti Money Laundering standards to digital assets is a significant and evolving regulatory focus. International bodies continue to refine guidelines for Virtual Asset Service Providers, emphasizing the need for robust compliance measures to address the unique characteristics of cryptocurrency transactions and prevent their misuse.
Global VASPs must urgently operationalize the Travel Rule, as the FATF cites a 75% jurisdictional compliance shortfall, demanding rapid domestic legislative action.
Virtual Asset Service Providers must immediately update compliance architectures to meet standardized global data transmission requirements for transfers over €1,000.
We use cookies to personalize content and marketing, and to analyze our traffic. This helps us maintain the quality of our free resources. manage your preferences below.
Detailed Cookie Preferences
This helps support our free resources through personalized marketing efforts and promotions.
Analytics cookies help us understand how visitors interact with our website, improving user experience and website performance.
Personalization cookies enable us to customize the content and features of our site based on your interactions, offering a more tailored experience.
