UK Think Tank Warns Crypto Laundering Is Material Risk Before FATF Review
(1 hour ago) · 1 source · Summarized by CryptoBipto
The Royal United Services Institute (RUSI), a UK defense and security think tank, has described crypto-related money laundering as a "material risk" for the United Kingdom. The warning comes ahead of a review by the Financial Action Task Force (FATF), the global anti-money-laundering standard-setting body, which periodically evaluates countries' efforts to combat financial crime.
WHY IT MATTERS
When people use traditional banks to move money, there are systems in place to detect suspicious activity, like unusually large transfers or payments to sanctioned individuals.
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SOURCES
- decrypt.co
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