Transcription of UPDATED GUIDANCE FOR A RISK-BASED APPROACH
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UPDATED GUIDANCE FOR A RISK-BASED APPROACH
OCTOBER 2021 UPDATED GUIDANCE FOR A RISK-BASED APPROACHVIRTUAL ASSETS AND VIRTUAL ASSET SERVICE PROVIDERSThe Financial Action Task Force (FATF) is an independent inter-governmental body that develops and promotes policies to protect the global financial system against money laundering , terrorist financing and the financing of proliferation of weapons of mass destruction. The FATF Recommendations are recognised as the global anti-money laundering (AML) and counter-terrorist financing (CFT) standard. For more information about the FATF, please visit This document and/or any map included herein are without prejudice to the status of or sovereignty over any territory, to the delimitation of international frontiers and boundaries and to the name of any territory, city or area. Citing reference: FATF (2021), UPDATED GUIDANCE for a RISK-BASED APPROACH to Virtual Assets and Virtual Asset Service Providers, FATF, Paris, 2021 FATF/OECD.
This Guidance outlines the need for countries and VASPs, and other entities involved in VA activities, to understand the money laundering and terrorist financing (ML/TF) risks associated with VA activities and to take appropriate mitigating measures to address those risks. In particular, the Guidance provides examples of risk indicators
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