160 - Innovation Behind Bars: How FATF Actions Restrain FinTech Culture

The Financial Action Task Force (FATF) is an international body founded with the aim of enhancing global financial security and improving industry standards. However, in this episode, I share why I believe many of the actions that the FATF has taken are negatively impacting the FinTech space.  If you found value in this episode, I would really appreciate if you could leave a review! My mission is to help and support as many FinTech startups as possible, and when you leave a positive review, more people can find this podcast and help their companies! If you are on Apple, just click here to review, select "Ratings and Reviews" and "Write a Review" and tell me what your favorite part of the podcast is.    Today's episode: [00:37] An overview of today's episode. [01:04] The mission of the Financial Action Task Force (FATF). [01:43] How the FATF works.  [02:01] Problems with the FATF.  [02:51] How the FATF has impacted de-risking within the banking system.  [04:55] Why I disagree with the way the FATF guidelines segment industries.  [06:29] An explanation of how the FATF travel rule works.  [08:22] Consequences of the FATF's warnings about decentralized finance.  [09:55] Examples of the biases held by the FATF.  [14:28] Inconsistencies in the way the FATF assigns risk to different countries.   [15:50] Other elements of the FATF that I believe are problematic.    Show links: Interested in FinTech compliance? - consider investing in the FinTech Compliance Self-Starter Package! I would love to invite you to sign up for my newsletter. If you are interested, please click here.

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