On 1 July 2021, the Financial Action Task Force (FATF) published:
- A stocktake report that examines commercially available or emerging technologies that facilitate advanced anti-money laundering / countering the financing of terrorism (AML/CFT) analytics within regulated entities or collaborative analytics between financial institutions, while respecting data privacy and protection.
- A report that highlights the necessary conditions, policies and practices that need to be in place to successfully use new and emerging technologies to improve the efficiency and effectiveness of AML/CFT. The report also examines the obstacles that could stand in the way of successful implementation of new technology.
On 5 July 2021, the FATF also published a report that looks at its second 12-month review of the implementation of its revised Standards on virtual assets and virtual asset service providers. The review looks at how jurisdictions and the private sector have implemented the revised Standards since the FATF’s first 12-month review. It also looks at changes in the typologies, risks and the market structure of the virtual assets sector.