Foresight News reports that the Financial Action Task Force (FATF) recently took part in a seminar focused on innovative finance, organized by the Eurasian Group (EAG) and the Asia/Pacific Group on Money Laundering (APG). This event centered on the implementation of FATF standards concerning virtual assets and their service providers.
Key discussions highlighted strategies aimed at speeding up the adoption of FATF Recommendation 15. Participants delved into transformative financial services fostered by innovative payment solutions and the design of Central Bank Digital Currencies (CBDCs). Furthermore, the seminar underscored the significance of advancing financial inclusion by addressing gaps in access to financial services through innovative digital methodologies.
The conversations also covered the anti-money laundering risks present in the fast-changing fintech landscape. A strategic approach to integrating FATF standards was emphasized, especially concerning virtual assets. Participants explored how cutting-edge financial technologies might be utilized to bolster financial services while ensuring adherence to anti-money laundering regulations.
The event acted as a valuable forum for the exchange of ideas and best practices among experts and stakeholders within the financial domain..