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.
last updated: 20 Apr. 2012
Report on New Payment Methods - 2006
Typologies, New Payment Methods, NPM