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- 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
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FATF (Financial Action Task Force)
risk-weight mapping correctness. A $100K/yr Basel gate package for a G-SIB is a trivial expense relative to the capital requirement penalty of getting the mapping wrong.
FATF (Financial Action Task Force) — AML/CFT Standards
International standard-setter for anti-money laundering and counter-terrorism financing. 40 Recommendations covering: risk assessment, customer due diligence (CDD), beneficial ownership transparency, suspicious transaction reporting, targeted financial sanctions, proliferation financing. National implementation varies by jurisdiction.
Who must comply: Financial institutions, DNFBPs (designated non-financial businesses and professions), virtual asset service providers (VASPs). In practice: every bank, money service business, crypto exchange, and high-value dealer globally.
Penalties: National enforcement varies. Systemic failures lead to FATF grey-list (monitoring) or black-list (counter-measures). Grey-listing increases transaction costs — Iran and North Korea are black-listed.
Why it matters: FATF's CDD requirements are the most widespread and rule-complex compliance obligation globally. The gate stack can encode tiered CDD rules, prove that every customer onboarding followed the correct 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.
Part of the compliance framework index.