“Can you put in place effectively a system that identifies who is sending what to whom? In terms of virtual currencies that remains the same.  [..]  One significant issue is identification of the beneficial ownership of trusts, entities and companies, the ability of criminals to hide behind a corporate veil or some other legal instrument. That is a challenge we are dealing with. We have a new standard in place for that, and it will be tested in practice very shortly. That will require much closer cooperation between different arms of government that haven’t perhaps had to work together before. I would put that down as a significant challenge going forward.”

http://blogs.wsj.com/riskandcompliance/2014/04/08/does-anti-money-laundering-work-rick-mcdonell-of-fatf-answers-critics/

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