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Psychoanalysis --- Psychotherapist and patient --- Selflessness (Psychology) --- Case studies --- Jackson, Grace, --- Nakhla, Fayek,

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This note explores the conditions, design elements, and implementation considerations of a successful voluntary disclosure program (VDP), including its compliance with anti–money laundering/combating the financing of terrorism (AML/CFT) international standards. The note emphasizes that such a program must be offered in the context of a considerably strengthened and credible enforcement capacity—one that is explicitly publicized to taxpayers—to avoid undermining tax morale.

Tax revenue estimating. --- Anti-money laundering and combating the financing of terrorism (AML/CFT) --- Corporate crime --- Crime --- Criminology --- Expenditure --- Expenditures, Public --- Exports and Imports --- External position --- Flat tax --- Foreign assets --- Illegal Behavior and the Enforcement of Law --- Income tax --- International economics --- International Investment --- International Taxation --- Investments, Foreign --- Long-term Capital Movements --- Monetary economics --- Money laundering --- National Government Expenditures and Related Policies: General --- Public finance & taxation --- Public Finance --- Revenue administration --- Tax administration and procedure --- Tax administration core functions --- Tax Evasion and Avoidance --- Tax evasion --- Taxation --- Taxation, Subsidies, and Revenue: General --- Taxes --- White-collar crime

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The purpose of this note is to assist countries in their understanding and mitigation of the money laundering (ML), terror financing (TF), and financing of the proliferation of weapons of mass destruction (PF) risks related to virtual assets (VAs). This is the first of two Fintech Notes dedicated to VAs and anti-money laundering and combating the financing of terrorism (AML/CFT). This first note is broad in scope. It explains why VAs are vulnerable for misuse for ML/TF/PF purposes and clarifies which assets and service providers should be subject to AML/CFT measures. It discusses the measures that all countries should take, and the type of action necessary in instances of criminal misuse of VA. A second Fintech note focuses on the AML/CFT regulatory and supervisory framework for virtual asset service providers (VASPs). Both notes are based on Financial Action Task Force (FATF) standards and draw heavily on the FATF’s 2019 “Guidance for a Risk-Based Approach to Virtual Assets and Virtual Asset Service Providers.” They aim at providing policy makers and authorities with AML/CFT responsibilities with an overview of the legal and operational considerations that the implementation of a sound AML/CFT framework for VAs and VASPs raises. In some instances, the notes make reference to specific types of VAs, VASPs, and related products. These references are made for illustrative purposes only, and do not constitute an endorsement of the specific VAs, VASPs, and related products. Finally, at the time of drafting, no country had been assessed against the new standards and many country authorities were in the process of establishing how best to incorporate the new standards in their AML/CFT framework. For these reasons, this note does not refer to specific country examples.

Anti-money laundering and combating the financing of terrorism (AML/CFT) --- Blockchain and DLT --- Blockchains --- Corporate crime --- Crime & criminology --- Crime --- Crime--Economic aspects --- Criminology --- Currency crises --- Databases --- Digital currencies --- Distributed ledgers --- Economic & financial crises & disasters --- Economic sectors --- Economics of specific sectors --- Economics --- Economics: General --- Financial crises --- Financial services industry --- Foreign Exchange --- Government and the Monetary System --- Illegal Behavior and the Enforcement of Law --- Industries: Financial Services --- Informal Economy --- Informal sector --- Macroeconomics --- Monetary Systems --- Money laundering --- Payment Systems --- Regimes --- Standards --- Technological innovations --- Technology --- Underground Econom --- Virtual currencies --- White-collar crime