FATF Warns of Growing Role of Stablecoins in 'Digital Hawala'

cryptonews.ruPublicado em 2026-09-04Última atualização em 2026-09-04

Resumo

In a new report, the Financial Action Task Force (FATF) warns that traditional informal financial networks, such as hawala, are increasingly using cryptocurrencies, including stablecoins, for money laundering. This evolving method is termed "digital hawala." A survey across 46 jurisdictions revealed nearly 70% of respondents noted these networks adopting new technologies, such as encrypted messengers, social media promotion, and reduced cash use. Clients of illegal banking are increasingly using bank transfers, fintech apps, instant payment systems, crypto platforms, and stablecoins like USDT, USDC, and DAI to mitigate volatility. Over 80% of respondents identified hawala-type systems as a primary channel for professional money laundering. The report states that digital tools can enhance the efficiency of these activities, aid in concealing funds, and expand the networks' geographic reach. FATF has previously called for tighter controls on stablecoins, noting in a March report that they accounted for up to 84% of illegal crypto transactions in 2025. It highlighted that peer-to-peer transfers between non-custodial wallets bypass anti-money laundering systems. The Bank of Russia has emphasized that its developing regulations for the crypto market are aligned with FATF recommendations.

Traditional informal financial networks operating on the hawala principle are increasingly being used to launder money through cryptocurrencies, including stablecoins, according to a new report by the Financial Action Task Force (FATF). The authors note that illicit banking is transforming into "digital hawala."

A survey was conducted in 46 jurisdictions, and nearly 70% of respondents noted the adoption of new technologies by informal networks. The growing trend towards using "digital hawala" includes the use of encrypted messengers, promotion on social media, and a reduced reliance on cash.

Clients of illicit banking are increasingly making bank transfers, using fintech apps or instant payment systems, crypto platforms, as well as stablecoins. The latter are used to reduce volatility, FATF noted.

"In more advanced models, operators use virtual assets, including stablecoins such as USDT, USDC, and DAI, to replace or complement traditional methods for settlements. These mechanisms can include fast transfers, conversion to cash, or hybrid combinations," the report states.

Over 80% of survey respondents classified systems like hawala as key channels or methods for professional money laundering. The adoption of digital tools could increase the efficiency of this activity, facilitate the concealment of funds, and expand the geographic reach of networks, the authors believe.

FATF has already called for better oversight of stablecoins, releasing a 40-page report in March on the risks of such tokens and their peer-to-peer transfers without regulated intermediaries. The document noted that stablecoins accounted for up to 84% of illicit crypto transactions in 2025. It was separately emphasized that transfers between private non-custodial wallets create a vulnerability, bypassing anti-money laundering systems.

During the preparation of the Russian law "On Digital Currencies and Digital Rights," which came into force, the Bank of Russia repeatedly emphasized that the regulation of the crypto market is being developed precisely taking into account FATF recommendations.

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Perguntas relacionadas

QWhat is the main concern raised by FATF regarding stablecoins in its new report?

AThe main concern is that stablecoins are increasingly being used by traditional informal financial networks, like hawala, for money laundering, facilitating a shift towards 'digital hawala.'

QWhat percentage of survey respondents identified hawala-type systems as major channels for professional money laundering?

AOver 80% of the survey respondents identified hawala-type systems as major channels or methods for professional money laundering.

QAccording to the FATF report, what technologies are informal networks increasingly adopting?

AInformal networks are increasingly adopting new technologies such as encrypted messengers, social media promotion, fintech apps, instant payment systems, crypto platforms, and stablecoins, while reducing their use of cash.

QWhat specific vulnerability is created by peer-to-peer transfers between private non-custodial wallets, as highlighted by FATF?

APeer-to-peer transfers between private non-custodial wallets create a vulnerability because they operate outside the anti-money laundering control system.

QHow does the Bank of Russia's approach to regulating the crypto market relate to the FATF's work?

AThe Bank of Russia has emphasized that its regulatory framework for the crypto market, as seen in the law 'On Digital Currencies and Digital Rights,' is being developed specifically in consideration of FATF recommendations.

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