Referred to as “The Algeria Principles”, they aim to assist member states in addressing the growing threat posed by technologies used for terrorist purposes.
The principles include:
➡️ Enhancing the understanding of terrorist financing risks associated with new and emerging financial technologies and fundraising methods;
➡️ Developing and implementing risk-based, proportionate regulation, monitoring, and supervision to prevent the abuse of new technologies for terrorist financing purposes;
➡️ Effectively detecting and disrupting the use of new technologies for the purposes of terrorist financing; and
➡️ Evaluating the impact of measures to counter the financing of terrorist (CFT) in relation to new and emerging technologies.
✅ Firms should review their control frameworks and monitoring systems to ensure they are effectively addressing TF risks and emerging technology threats.
AML/CTF/CPF
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