The Financial Action Task Force (FTAF) has criticized Qatar for its inadequate response to crypto money laundering and terrorist financing. Despite banning virtual asset providers and crypto transactions, Qatar has not effectively enforced the prohibition.
The Financial Action Task Force (FTAF) has reprimanded Qatar for its poor approach to money laundering. A report by the organization says that the country needs to make “major improvements” in its response to terrorist financing.
Qatar’s Crypto Money Laundering Convictions
The FATF is a Paris-based international watchdog that sets global standards to combat money laundering and terrorist financing. The organization’s report noted that although the country’s financial intelligence unit is “well-equipped,” its “sophisticated analysis capabilities” are not being used fully.
“Qatar has only secured a small number of terrorist financing convictions and…
