{"id":80752,"date":"2023-06-26T12:55:23","date_gmt":"2023-06-26T09:55:23","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=80752"},"modified":"2025-09-11T18:52:07","modified_gmt":"2025-09-11T15:52:07","slug":"fatf-expresses-concern-over-pace-of-travel-rule-implementation","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/fatf-expresses-concern-over-pace-of-travel-rule-implementation\/","title":{"rendered":"FATF expresses concern over pace of Travel Rule implementation"},"content":{"rendered":"<p>Participants in the <span data-descr=\"Group for the development of financial measures to combat money laundering\" class=\"old_tooltip\">FATF<\/span> must promptly implement the so-called &#8216;Travel Rule&#8217; to close gaps not covered by regulatory acts, the organisation said in a statement following its plenary session.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The FATF plenary has concluded. Delegates of governments from around the world discussed a range of money laundering and terrorist financing issues.<\/p>\n<p>See the outcomes of the plenary here\u27a1\ufe0f <a href=\"https:\/\/t.co\/s0nmYw1ca6\">https:\/\/t.co\/s0nmYw1ca6<\/a><a href=\"https:\/\/twitter.com\/hashtag\/FATFWeek?src=hash&#038;ref_src=twsrc%5Etfw\">#FATFWeek<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/moneylaundering?src=hash&#038;ref_src=twsrc%5Etfw\">#moneylaundering<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/terrorismfinancing?src=hash&#038;ref_src=twsrc%5Etfw\">#terrorismfinancing<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/followthemoney?src=hash&#038;ref_src=twsrc%5Etfw\">#followthemoney<\/a> <a href=\"https:\/\/t.co\/DTerSET5QT\">pic.twitter.com\/DTerSET5QT<\/a><\/p>\n<p>\u2014 FATF (@FATFNews) <a href=\"https:\/\/twitter.com\/FATFNews\/status\/1672302495173865472?ref_src=twsrc%5Etfw\">June 23, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The Travel Rule obliges a financial institution processing crypto transactions to transmit information about the client to the exchange or recipient institution. The data should include the sender&#8217;s and recipient&#8217;s name and address, as well as account details.<\/p>\n<p>On 23 June, the FATF noted that the <span data-descr=\"money laundering\" class=\"old_tooltip\">AML<\/span>\/<span data-descr=\"terrorist financing\" class=\"old_tooltip\">CFT<\/span> rule has yet to be implemented.<\/p>\n<p>In the survey, more than half of representatives of participating countries admitted that they had taken no steps to implement the Travel Rule.<\/p>\n<p>A March 2022 survey showed that at that time only 29 of 98 jurisdictions met the necessary requirements in this respect, and a small portion had begun to apply them.<\/p>\n<p>As noted, since 1 June, the Travel Rule<a href=\"https:\/\/forklog.com\/en\/news\/japans-parliament-approves-travel-rule-implementation-to-begin-on-june-1\"> has taken effect<\/a> in Japan.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Participants in the FATF must promptly implement the so-called Travel Rule to close gaps not covered by regulatory acts, the organisation said in a statement following its plenary session.<\/p>\n","protected":false},"author":1,"featured_media":80753,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[971,36],"class_list":["post-80752","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-fatf","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"28","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80752","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=80752"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80752\/revisions"}],"predecessor-version":[{"id":80754,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80752\/revisions\/80754"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/80753"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=80752"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=80752"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=80752"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}