New Payment Methods Report Published

New Payment Methods

The FATF has examined the way in which money can be laundered through the exploitation of new payment technologies (prepaid cards, Internet payment systems, mobile payments, and digital precious metals).  The report found that, while there is a legitimate market demand for these payment methods, money laundering and terrorist financing vulnerabilities exist.  Specifically, cross-border providers of new payment methods may pose more risk than providers operating within a particular country.  The report recommends continued vigilance to further assess the impact of evolving technologies on cross-border and domestic regulatory frameworks.

This report is one in a series of thematic studies carried out by the FATF to provide an in-depth look at money laundering and terrorist financing typologies.  A full text of the report is available on the FATF website. Click here to download a copy]

For further information, journalists are invited to contact Helen Fisher, OECD Media Relations (tel.: +33 1 45 24 80 97 or helen.fisher@oecd.org or Spencer.Wilson@oecd.org) or the FATF Secretariat, 2, rue André-Pascal, 75775 Paris Cedex 16 (tel: +33 1 45 24 79 45, fax: +33 1 44 30 61 37 or email: contact@fatf-gafi.org).