IMF Recommends Immediate Action on Malta’s AML and CFT Supervision

The IMF has said that Malta does not have the proper supervision for AML and CFT and is calling for “urgent action.” The International Monetary Fund (IMF) has said that the Malta Financial Services Authority (MFSA) has critical gaps in its supervision for anti-money laundering (AML) and combating the financing of terrorism (CFT), and is recommending “urgent action.” The news was reported by local news outlet the Times of Malta on Feb.…
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IMF Urges Marshall Islands to Reconsider Adopting Digital Currency as Second Legal Tender

The IMF has warned the Marshall Islands about the risks of adopting a digital currency as a second legal tender, urging it to “seriously reconsider.” The International Monetary Fund (IMF) has warned the Republic of the Marshall Islands (RMI) about the risks of adopting a cryptocurrency as a second legal tender, according to an official press release published on September 10.In the report, the U.S.-based agency backed by the United Nations addresses the government of the Republic of the Marshall Islands, stating that the introduction of digital currency as an official form of legal tender will pose risks to the country’s financial integrity, as well as relationships with foreign banks.By adopting digital currency as a second official currency after the U.S.…