US Treasury Secretary Yellen speaking to regulators and private sector attendees at a Treasury-hosted forum
- says the US is seeing 'explosion of risk' related to fraud, money laundering, terrorist financing and data privacy
- says pandemic highlighted problems of 'broadband deserts', lack of access to financial services for millions of people
- says Treasury can leverage financial sector innovation to combat problems, promote financial inclusion and improve competitiveness
- says misuse of cryptocurrencies and virtual assets is growing problem
- cryptocurrencies have been used to launder profits of online drug traffickers, finance terrorism
more to come
