FATF Says Countries Agree to Tackle Virtual-Asset Financial Crime

The Financial Action Task Force (FATF) said countries agreed to coordinate on financial-crime threats tied to virtual assets, including fraud and scams, as the group set out a global effort to address those risks.

FATF is an intergovernmental body whose mandate includes efforts against money laundering and terrorist financing. Its initiative calls for countries to collaborate on financial-crime threats associated with the virtual-asset sector.

The announcement followed FATF’s first plenary under the UK Presidency of Giles Thomson.