FATF targets crypto hubs in review of money laundering controls
Summary
The FATF will conduct a targeted review of jurisdictions with significant virtual asset service provider activity to identify gaps in applying global anti-money-laundering standards. It will consider jurisdictions’ existing assessment status, while regular assessments remain the main compliance tool. Initial findings are due in June 2027, with further results in October and subsequent monitoring. The FATF has not named the jurisdictions. The review follows findings that, although 83% of surveyed jurisdictions had adopted Travel Rule laws, 55 of 91 had taken no supervisory or enforcement action, and authorities struggled to detect unlicensed providers and oversee overseas services.
