http://digbig.com/4nrdx
Catherine Holahan
"Cybercriminals looking to launder money or finance nefarious deeds via the Internet have a host of tools at their disposal. And they'll be able to ply those means with greater skill if governments don't step up policing efforts. The Financial Action Task Force is developing recommendations for international regulations to combat financial cybercrime."
New Payment Methods / FATF, 2 Nov 2006
PDF - http://www.fatf-gafi.org/dataoecd/30/47/37627240.pdf
"The FATF has examined the way in which money can be laundered through the exploitation of new payment technologies (prepaid cards, Internet payment systems, mobile payments, and digital precious metals). The report found that, while there is a legitimate market demand for these payment methods, money laundering and terrorist financing vulnerabilities exist. Specifically, cross-border providers of new payment methods may pose more risk than providers operating within a particular country. The report recommends continued vigilance to further assess the impact of evolving technologies on cross-border and domestic regulatory frameworks."
