The Financial Action Task Force (FATF), a global standards-setter for combating money laundering and terrorist financing, has turned its attention to the issue of digital identity, seeking feedback on new proposed guidance.
FATF said on Thursday that it planned to establish a set of risk-based guidance for authorities and firms in the area, with digital ID expected to streamline know your customer (KYC) requirements and improve anti-money laundering (AML) and counter-terrorist financing (CTF) efforts.
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