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US Treasury releases first illicit finance risk assessment centered on NFTs

Image of NFT images on a screen in New York's Times Square.
Photo: Noam Galai/Getty Images

Julie DiMauro

3 min read
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US Treasury report details how and why NFTs can be used to perpetrate frauds – from market manipulation to insider trading.

On Wednesday, the US Department of the Treasury released a 2024 Non-fungible Token (NFT) Illicit Finance Risk Assessment. This assessment delves into the vulnerabilities linked to NFTs and NFT platforms, highlighting how illicit actors could leverage them for money laundering, terrorist financing, and proliferation financing. 

The assessment finds that NFTs

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