Countries must counter money-laundering through fintech – IMF official

Tobias Adrian
IMF Staff Photograph/Stephen Jaffe

The international community must devise a coordinated approach to preventing fintech being used for money laundering, a senior International Monetary Fund official said.

 “We must seek ways to mitigate the risk of money laundering in the new payment channels,” Tobias Adrian, director of the IMF’s monetary and capital markets department, said on January 28.

Currently, banks have a monopoly over international payment networks, but the entrance of communication companies and technology firms will

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