0a8e77e949
- Moved everything from ideas/passepartout/ to projects/passepartout/ - Moved legal structures to projects/flags/ - Created missing _index.org files for all subdirectories - Stripped redundant passepartout- prefix from filenames - Rewrote root _index.org as generalized brain index (projects + concepts) - Updated Hugo nav to Projects/Concepts - Updated build script section descriptions - Deleted stale ideas/passepartout-economics.md orphan
36 lines
1.7 KiB
Org Mode
36 lines
1.7 KiB
Org Mode
:PROPERTIES:
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:ID: 03ebdb80-a9af-4e76-a443-8556424996ed
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:ID: auto-fatf
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:CREATED: [2026-05-23 Sat]
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:END:
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#+title: FATF (Financial Action Task Force)
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#+filetags: :passepartout:compliance:framework:fatf:
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risk-weight mapping correctness. A $100K/yr Basel gate package for a G-SIB
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is a trivial expense relative to the capital requirement penalty of getting the
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mapping wrong.
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** FATF (Financial Action Task Force) — AML/CFT Standards
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International standard-setter for anti-money laundering and counter-terrorism
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financing. 40 Recommendations covering: risk assessment, customer due diligence
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(CDD), beneficial ownership transparency, suspicious transaction reporting,
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targeted financial sanctions, proliferation financing. National implementation
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varies by jurisdiction.
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Who must comply: Financial institutions, DNFBPs (designated non-financial
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businesses and professions), virtual asset service providers (VASPs). In
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practice: every bank, money service business, crypto exchange, and high-value
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dealer globally.
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Penalties: National enforcement varies. Systemic failures lead to FATF grey-list
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(monitoring) or black-list (counter-measures). Grey-listing increases transaction
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costs — Iran and North Korea are black-listed.
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Why it matters: FATF's CDD requirements are the most widespread and
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rule-complex compliance obligation globally. The gate stack can encode
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tiered CDD rules, prove that every customer onboarding followed the correct
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verification path, and produce an auditable trail for every suspicion report. First-mover advantage is significant — no vendor offers verifiable AML gate automation at scale.
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Part of the [[id:e4a7b3d2-1c9f-4b6e-8a2d-5f3c7e1b9a0c][compliance framework index]].
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