Key findings include:

• Regulatory gaps: Many jurisdictions lack consistent frameworks to regulate oVASPs, enabling criminals to exploit these vulnerabilities.
• Illicit activities: oVASPs are used to obscure transactions, support scams, and facilitate terrorism financing through complex schemes like layering funds across multiple blockchains.
• Good practices: The report highlights measures such as activity-based licensing, international cooperation, and enforcement actions like sanctions and market restrictions to mitigate risks.

Recommendations for stakeholders include:

• Jurisdictions: Strengthen licensing, supervision, and enforcement mechanisms for oVASPs, and enhance international collaboration.
• Private sector: Conduct risk assessments, apply group-wide compliance measures, and avoid dealings with unlicensed oVASPs.

The report stresses the urgency of global cooperation and robust regulatory frameworks to address the evolving risks posed by oVASPs and can be found here.