News & Analysis as of September 3, 2025

Money Laundering

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Virtual Currency (aka Digital Currency or Digital Money) is a type of currency or medium of exchange that is not issued by any government nor guaranteed by a government currency. Despite lacking legal tender status, Virtual Currency is still traded and exchanged in some environments, typically online environments or communities. Bitcoin is the most well-known form of Virtual Currency. less -

Regulatory & Risk Advisory Review: Cayman Islands – April to June 2025

Conyers on 8/19/2025

Welcome to the latest edition of our Regulatory & Risk Advisory Review. In this issue, we explore key regulatory updates and emerging trends to help you stay informed and ahead in today’s dynamic compliance environment. The...more

FATF 2022 Strategic Initiatives

Foodman CPAs & Advisors on 8/1/2022

The Financial Action Task Force (FATF) is an independent inter-governmental entity that develops policies for protection of our global financial system from money laundering, terrorist financing and financing of weapons of...more

FinCEN Warns Against Evasion of Russian Sanctions

Goodwin on 3/14/2022

In this Issue. The Financial Crimes Enforcement Network (FinCEN) published an alert warning financial institutions of possible efforts to evade U.S.-imposed sanctions on Russia and Belarus; the U.S. Department of the Treasury...more

The Extension of FAFT’s ‘travel Rule’ and Implications for Virtual Asset Service Providers in the UK

McDermott Will & Schulte on 2/25/2022

The extension of the Financial Action Task Force (FATF) ‘Travel Rule’ to ‘Virtual Asset Service Providers’ (VAPSs) is emblematic of the continued and growing push to bring crypto businesses into the mainstream of financial...more

Updated Guidance from the FATF Regarding a Risk-Based Approach for Virtual Assets and Virtual Asset Service Providers

Polsinelli on 11/2/2021

On October 28, 2021, The Financial Action Task Force (FATF), an inter-governmental body that sets international standards with an aim to prevent global money laundering and terrorist financing, released updated guidance...more

Cryptocurrency 101 – DOJ’s New Cryptocurrency Enforcement Framework Provides Guidance And Promises Of Heightened Scrutiny Of...

Vinson & Elkins LLP on 10/22/2020

On October 8, 2020, the Attorney General’s Cyber-Digital Task Force (“the Task Force”) issued its Cryptocurrency Enforcement Framework (the “Report”), which offers background on virtual assets, enforcement milestones, and...more

FATF Identifies Red Flags for Virtual Assets and Money Laundering

Ballard Spahr LLP on 9/18/2020

The Financial Action Task Force (FATF) recently published a report titled Virtual Assets: Red Flag Indicators of Money Laundering and Terrorist Financing. The report discusses a number of red flag indicators of suspicious...more

Israel: How to Identify Suspicious Use of Virtual Currencies

Barnea Jaffa Lande & Co. on 7/6/2020

Prompted by the use of digital currencies to fund terror and other illegal activity, the Israel Money Laundering and Terror Financing Prohibition Authority has published a document aimed at assisting financial bodies and law...more

FinCEN Sends Message to the Virtual Currency Industry: The Travel Rule Applies to You, Too

Orrick - On the Chain on 5/28/2020

FinCEN Director Ken Blanco addressed this year’s Consensus Blockchain Conference on May 13, 2020. In a set of prepared remarks, Blanco recognized the unprecedented challenges that the COVID-19 pandemic has created for...more

Treasury Report Targets Money Laundering Risks in Real Estate and Gatekeeper Professions

Ballard Spahr LLP on 3/5/2020

In its 2020 National Strategy for Combating Terrorist and Other Illicit Financing (“2020 Strategy”), the U.S. Department of Treasury (“Treasury”) has laid out its AML and money laundering enforcement priorities. Last week, we...more

Financial Action Task Force Drops the Regulatory Hammer on Virtual Currency

Ballard Spahr LLP on 7/12/2019

On June 21, 2019, the Financial Action Task Force (“FATF”), a multi-national, inter-governmental body established in 1989 “to set standards and promote effective implementation of legal, regulatory and operational measures...more

Financial Action Task Force Reports to G20

A&O Shearman on 6/7/2019

The Financial Action Task Force has published a Report to G20 Finance Ministers and Central Bank Governors on its ongoing work to fight money laundering and terrorist financing. The report summarizes the FATF's work...more

The Financial Action Task Force and Virtual Assets

Foodman CPAs & Advisors on 4/29/2019

The FATF (FATF) is an inter-governmental body with 38 members that sets standards and promotes the implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and threats...more

Financial Action Task Force Clarifies Virtual Asset Regulation

A&O Shearman on 10/29/2018

The Financial Action Task Force has published the outcomes of its plenary on October 17-19, 2018. The FATF considered key issues such as the operations and streamlining of the FATF, major and other strategic initiatives and...more

G20 looks at October deadline for cryptocurrency AML regulation standards

Hogan Lovells on 7/30/2018

What has happened? G20 member countries are looking at an October deadline for reviewing a global anti-money laundering (AML) standard on cryptocurrency....more

Virtual Currency: Anti-Money Laundering and Terrorist Financing Update

Perkins Coie on 7/26/2018

On July 18, 2018, the Financial Action Task Force (“FATF”), published its report to the July 2018 G20 Finance Ministers and Central Bank Governors’ meeting. The report sets out FATF’s ongoing work to fight money laundering...more

Global Regulators to Maintain AML Pressure on the Cryptocurrency Industry

Ballard Spahr LLP on 3/2/2018

On February 23, the Financial Action Task Force (“FATF”) signaled that the inter-governmental body “will step up its efforts in monitoring the use of cryptocurrencies in money laundering.” ...more

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