New Payment Product & Services (NPPS) - AML/CFT : FATF
New Payment Products and Services (NPPSs) can pose risks to anti-money laundering (AML) and counter-terrorist financing (CFT) efforts. NPPSs are innovative payment services that can be used to: · Co-mingle legitimate business takings with illicit cash · Move illicit funds across borders · Conceal criminal proceeds and send them offshore NPPSs include: · Prepaid cards · Mobile payment services · Internet-based payment services · Virtual currencies · Internet-based loans · Alternative remittance services ...