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Sanctioned States Exploit Crypto to Fuel Weapons—FATF Warns of “Exponential” Surge
Sanctioned States Exploit Crypto to Fuel Weapons—FATF Warns of “Exponential” Surge
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BTCCSquare news:
The Financial Action Task Force (FATF) has raised alarms over the escalating use of cryptocurrencies by sanctioned nations to finance weapons programs. A June 20 report highlights systemic vulnerabilities in global financial regulations, urging immediate action to close loopholes.
Only 16% of countries meet UN Security Council standards for countering proliferation financing. Illicit actors are leveraging sophisticated crypto-based methods to evade sanctions and fund weapons of mass destruction. The FATF emphasizes coordinated public-private sector responses to mitigate risks.
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