February 18 2017
The Financial Action Task Force (FATF) held a roundtable on FinTech and RegTech in Paris on 18 February 2017. The roundtable was chaired by the FATF President, Mr. Juan Manuel Vega-Serrano.
Technology-based innovations are starting to radically change the financial industry. The FATF has already undertaken a large body of work to understand the risks and vulnerabilities of new payment products and services, and to ensure that AML/CFT measures remain up-to-date as new technologies emerge. The next step and one of the key priorities of the Spanish Presidency is to develop a partnership with the FinTech and RegTech community to support innovation in financial services, while maintaining transparency and mitigating the associated risks. Building such a partnership will enable FATF to become more proactive in the development of standards, guidance and best practice, anticipating and being involved in these new developments rather than responding to them.