Whilst Russia is aggressively posturing itself as a country that is very cooperative with the FATF rules, the same cannot be said of the other countries. As of August 2020, the FATF listed two countries on its blacklist and 18 countries on its greylist.
Greylisted countries are those that have been identified as having strategic deficiencies and have agreed to resolve the deficiencies within an agreed time frame and are therefore subject to increased monitoring.
Many of the countries in the FATF greylist lacked the resources and the infrastructure to cope with the requirements of the FATF even before the use of cryptocurrencies for money laundering, tax crimes or terrorism financing. Cryptocurrencies allows the perpetrators to utilize even more sophisticated techniques that those employed earlier. Therefore, the number of countries in the greylist could possibly increase in the future.
Shared On DLIKE
