The global state of compliance with FATF Recommendation 15

VASPnet has conducted an independent assessment of the implementation status of the Financial Action Task Force’s (FATF) Recommendation 15 and Recommendation 16 across the 210 jurisdictions that are members of the FATF network.

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FATF’s Recommendation 15 requires that anti-money laundering and counter-terrorist financing (AML/CTF) measures be applied to virtual assets (VAs) and virtual asset service providers (VASPs). Additionally, often referred to as the Travel Rule, Recommendation 16 requires financial institutions (including VASPs) to identify both the originator (payer) and beneficiary (payee) at each end of a wire transfer and share required data.

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This report highlights how many of the 210 jurisdictions have:

• an AML/CFT regulatory regime for VAs in place (Recommendation 15),
• the Travel Rule in place (Recommendation 16), and
• a legal requirement for entities to conduct due diligence on counterparty VASPs.
  

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Read our latest report to learn more about the implementation of VA regulatory regimes across the FATF network.