How does Libra plan to prevent money laundering and illicit financing?

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Libra's Strategy Against Financial Crime

Libra is strengthening its financial compliance network and technology platform to prevent money laundering and illicit financing. The association is bolstering its defenses to thwart activities such as terrorism funding and sanctions evasion. This includes hardening the technology platform and the reserve backing its digital currencies.
Enhancing the Financial Compliance Network

The Libra Association is augmenting its financial compliance network to combat illicit financial activities. This initiative is specifically designed to thwart money laundering, terrorism financing, and the evasion of sanctions. The association is focusing on fortifying the systems in place to ensure regulatory adherence and prevent misuse of the network.
Fortifying the Technology Platform and Reserve

In addition to compliance measures, Libra is enhancing the security of its underlying technology platform. Concurrently, the association is reinforcing the defenses of the reserve that backs its digital currencies. These measures aim to safeguard the integrity of the digital assets and the infrastructure supporting them.
Addressing Concerns on Illicit Activities

The revamped approach by Libra is a response to concerns raised regarding the potential for illicit activities. By bolstering its compliance network and technological defenses, the association seeks to mitigate risks associated with money laundering and other financial crimes. This proactive stance is intended to build confidence in the security and legitimacy of the Libra initiative.

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How does Libra plan to prevent money laundering and illicit financing?

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