Oddbean new post about login | logout Singapore Flags Higher Terrorism Financing Risk for Digital Payment Token Services: https://yakihonne.s3.ap-east-1.amazonaws.com/953281df0361f1a7ff836841c2b978b8d606b035e7d07b8d148c72e50b4d78a7/files/1719837710276-YAKIHONNES3.jpg Singapore has raised the risk level for digital payment token (DPT) service providers potentially facilitating terrorism financing (TF) from “medium-low” to “medium-high” in its latest update to the terrorism financing national risk assessment.
The features of digital payment tokens, such as anonymity, speed, and cross-border nature of transactions, make them attractive to individuals financing terrorism. While there are no known domestic terrorism financing cases involving DPTs in Singapore, the authorities are cognizant of the higher risks associated with the increasing presence of DPT service providers. These providers have become a new tool for terrorist financiers to transfer funds across borders
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