Former FATF Members Josee Nadeau and Rick McDonell Sign on as Advisors for Shyft Network
Shyft Network has just added two new members, Josee Nadeau and Rick McDonell to its Board of Advisors. Josee Nadeau was formerly the Head of the Canadian delegation to the FATF from 2009–2016, and Rick McDonell was formerly the FATF Executive Secretary from 2007 to 2016. Shyft Networks Board of Advisors, announced in June 2018, brings deep industry knowledge from international business, finance, blockchain, economics, and KYC/AML compliance.
Josee Nadeau and Rick McDonell bring extensive experience serving as members and heads of various regulatory bodies around the world such as FATF, OECD, WTO, and GPML (the United Nations Global Programme against Money Laundering) to the Shyft Network Board of Advisors.
One of Shyft Network’s main use cases is the deployment of an architectural solution to the Financial Action Task Force (FATF) Travel Rule presented to Virtual Asset Service Providers (VASPs). The recent FATF guidance requires sharing of sender and receiver data by transacting VASPs, such as cryptocurrency exchanges. VASPs are the central point of user-onboarding in the cryptocurrency ecosystem, however there is no platform today that enables VASPs to comply with this guidance. Shyft Network has partnered with several of the top 10 cryptocurrency exchanges to implement an industry-wide solution using Shyft’s identity passporting, database bridging, and data attestation infrastructure.
“We are both delighted to be working with Shyft, a young and dynamic company at the cutting edge of blockchain innovation and socially responsible regulation,” said Josee Nadeau and Rick McDonell.
Nadeau and McDonell bring an immense amount of regulatory and compliance knowledge to the Shyft Network Board of Advisors, which we believe will play a critical role in providing strategic guidance across multiple dimensions in Shyft’s mission to make the global economy more efficient and effectively regulated.
Josee Nadeau and Rick McDonell, are both principals and co-owners of McDonell-Nadeau Consultants specializing in financial integrity particularly Anti-Money Laundering and Counter Terrorist Financing (AML/CFT).