US Department of the TreasuryHe announced on Thursday, April 6, that decentralized finance (for transferring and laundering the illegal proceeds of cybercriminals and scammers) DeFi)announced its use of services.
Department of the Treasuryof illegal actors USAand exploiting vulnerabilities in preventing foreign money laundering and financing of terrorism ( AML/CFT ), as well as struggling with the technology that underpins the services. According to the statements, those who do not comply with these obligations in order to prevent money laundering and terrorist financing DeFiservices constitute the most important illicit financial risk in this field.
Treasury Recommends Addressing Legislative Gaps
Commenting on the subject US Department of the TreasuryUndersecretary of State for Terrorism and Financial Intelligence Brian Nelson: “Our assessment is that criminals, scammers and North Koreanmany illegal actors, including cyber actors, in the process of laundering illegal funds. DeFireveals that he is using his services”.
NelsonHe added that steps should be taken to inform the private sector’s risk reduction strategies and prevent illegal actors from using decentralized financial services.
Other vulnerabilities identified in the assessment include the potential for DeFi services to fall outside of current AML/CFT obligations, AML/CFTstandards and weak cyber security practices.
In the evaluation made by the Treasury, USAof AML/CFTstrengthening control, DeFiIt was recommended to provide additional guidance to the private sector on its obligations and to address legislative gaps related to services.
