What FATF thinks about digital ID, RegTech and SupTech

March 2020 was an important date in the history of digital identity. That month the Financial Action Task Force (FATF), the international regulatory organisation that has for 30 years set the global standards in fighting financial crime, published a paper which stated that digital identity had “reached an inflection point.” If FATF thinks digital identity can make a contribution to customer due diligence, a financial services industry spending hundreds of billions on KYC, AML, CFT and sanctions screening checks ought to be interested, yet the response so far is muted. Dominic Hobson asked Tom Neylan, a senior policy analyst at FATF in Paris, what progress FATF detects.

Questions that are being asked