News

A proliferation of cryptocurrency exchanges, electronic money institutions and other financial technology-centric platforms, or fintechs, in France have made the country more vulnerable to illicit finance, officials warned in a national risk assessment, or NRA, Tuesday. Using a new system for gauging France's exposure to financial crime, French officials assessed that 10 of 39 total economic activities, financial services and products, including auctions, consumer credit and crowdfunding, now pose a lower threat than they did at the time of the country's last NRA in 2019. Risk has meanwhile risen in nine of those 39 categories, including real estate, offshore trusts,...