New FATF rapport
Publication date 10-11-2021, 12:54
The FATF reviewed the opportunities and challenges of new technologies for AML/CFT to raise awareness of relevant progress in innovation and specific digital solutions. The FATF also looked at the persisting challenges and obstacles to their implementation and how to mitigate them. This project included the review and analysis of regulatory technology (RegTech) and supervisory technology (SupTech), both of which can improve the effectiveness of FATF Standards. As an example, natural language processing can support more accurate, flexible and timely analysis of customer information and reduce inaccurate or false information and enabling more efficient matching and search for additional data. Better and more up-to-date customer profiles mean more accurate risk assessments, better decision-making, and fewer instances of unintended financial exclusion. You can read the full report here.