Money Laundering Using New Payment Methods

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Methods and Trends

Money Laundering Using New Payment Methods

ML using New Payment Methods.pdf
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Money Laundering Using New Payment Methods

This report builds on the 2006 Typologies report on New Payment Methods (NPMs). Since 2006, there has been a significant rise in the number of transactions and the volume of funds moving through NPMs. Consequently, the number of discovered cases where such payment systems were misused for ML/TF purposes has also increased.

This report compares the "potential risks" described in the 2006 report to the "actual risks" based on new case studies and typologies. The report also describes a number of indicators of suspicious activity. These red flag indicators will help NPM service providers and other financial institutions to detect ML/TF activities. The report describes the challenges presented in developing appropriate legislation and regulations for NPMs and the different approaches taken by national legislators and regulators.

The New Payment Methods report is the result of analysis of questionnaire responses and publications about NPMs as well as input by relevant private sector representatives such as NPM service providers, including the Internet payment sector, the mobile payment sector and prepaid card technology providers. 

For more information about this report, please contact the FATF Secretariat at :