FATF warns of crypto‑facilitated money laundering

The Financial Action Task Force (FATF) issued a report warning that criminal groups are increasingly using cryptocurrencies to move billions of dollars from illicit activities. The report notes that gaps in regulation and the rapid growth of virtual‑asset markets allow money‑laundering schemes, fraud and the creation of “stablecoins” by criminal networks to evade detection. Of the 149 jurisdictions assessed, only 34 % meet the FATF’s standards for supervising virtual assets, a modest rise from the previous year.

Transparency International president François Valérian echoed these concerns, saying crypto platforms could become “new tax havens” without proper oversight. He highlighted the potential of artificial‑intelligence tools to spot suspicious transactions and called for stronger regulation, especially in the Dominican Republic, where he met President Luis Abinader to discuss anti‑corruption measures and an upcoming international conference in Punta Cana. Both experts stress that effective implementation of laws and international cooperation are essential to curb the illicit use of digital currencies.