By Elizabeth Hearst for AMLi
An official at China’s Central Bank has warned against the increasingly popular non-fungible tokens (NFTs) and stressed they could “easily become money-laundering tools”.
Speaking at a financial convention in Shanghai last week, Gou Wenjun, the Anti-Money Laundering Monitoring and Analysis Centre at the People’s Bank of China said virtual assets are “decentralised, anonymous and without borders… [and] have been widely used in illegal transactions such as blackmail, drug trafficking, gambling, money-laundering, financing for terrorism, tax evasion and cross-border transfer of funds”.
Subscribe now to have unlimited access
With our subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis, opinion, and breaking news across the sector, newsletter delivered twice per week, access to our Global Bank Fines & Penalties database, free access to Boardroom Series and more!
