Abstract
The article is devoted to the implementation of international standards of the Financial Action Task Force (FATF) in the field of new technologies (Recommendation 15) and related risks of money laundering, terrorist financing (AML/CFT). The issues of risk assessment and management are considered from the perspective of the development of the virtual assets (VA) market, its infrastructure, new instruments, and from the perspective of interaction with the banking and payment systems. The article also discusses the current problems of the development and functioning of the global cryptomarket and strategic planning of international cooperation in solving these issues, as well as an action plan at the national level. In addition, virtual asset service providers (VASPs) are trying to determine a cost-effective way to comply with this rule due to the lack of any standardized protocol in the VASP for exchanging such information. The authors disclose methodological approaches to assessing AML/CFT risks (1 Recommendation), mechanisms for conducting a sectoral risk assessment, and specifics of AML procedures, such as identification and verification of customers, determination of beneficial ownership, transfer of such information when performing transactions with virtual assets. The directions of the development of interaction between the central government authorities, the law enforcement system, and participants in the virtual asset market at the national and global level, the need to implement the "Travel Rule" (16 FATF Recommendations), using the latest fintech and blockchain (DLT) technologies to increase the speed and security of transmitted information are also analyzed. In addition, the rule requires VASP beneficiaries to obtain and retain the necessary information about the initiator and beneficiary. Particular attention is paid to the measures of the Ministry of Digital Transformation of Ukraine regarding the reduction of threats to the use of virtual assets in the shadow economy, the development of fraud in cyberspace, cybercrime in order to develop a transparent civilized crypto market and digital technologies in general.
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