Closing the Gap—How a trust framework, such as the YuTru Scheme, can help PNG off the FATF Greylist
Papua New Guinea is at a digital crossroad. In early 2026, the Financial Action Task Force (FATF) placed Papua New Guinea on the FATF Greylist, citing gaps in Anti-Money Laundering and Counter-Terrorist Financing (AML/CTF) frameworks. For the private sector, this isn’t just a regulatory “slap on the wrist”—it’s a direct threat to the ability to transact globally, increasing the cost of banking and slowing down trade.
PNG has the laws (AML/CTF Act 2015), but we lack the infrastructure to implement them at scale. The “Regulatory Gap” exists between what the law requires and what our paper-based, fragmented knowing your customer (KYC) system can actually deliver. When identity cannot be verified with absolute certainty, the entire financial system remains vulnerable to fraud and “de-risking” by international banks.
YuTru Scheme: The Private Sector’s Bridge
The YuTru Scheme or Trust framework was designed to bridge this gap. It isn’t just another framework; it is designed to be a shared “Digital Bridge” to be monitored, governed, and maintained by the PNG private sector.
By incorporating biometric-backed e-KYC and a decentralized trust model, the YuTru Scheme stands to transform compliance from a manual burden into a digital advantage.
The YuTru Scheme provides guidance in high-assurance verification by taking into consideration how we do business in Papua New Guinea. The YuTru Scheme aims to achieve standardized monitoring, ensuring that interoperability within the financial ecosystem adheres to the same high-level security protocols, making the entire financial sector “Greylist-resistant.”
As a shared responsibility or shared service, the Scheme is very cost-effective, with no single financial institution, micro-bank, super fund, or insurer having to carry the high cost of building their own high-security KYC stack.
A Call to Ownership
Infrastructure of this magnitude cannot be a “set and forget” project. To remain effective against evolving financial crimes, the YuTru Scheme requires active participants. The onus is on PNG’s financial leaders—Banks and financial institutions, Savings and Loans Institutions, Superfunds and Microbanks—to get on board and adopt, monitor, and sustain this framework. By becoming a Participating Member, you aren’t just buying a service; you are owning a piece of the solution that protects PNG’s financial sovereignty.
The bridge has been built. Now, it’s time to help us maintain it. “If you want to go fast, go alone; if you want to go far, go together.” African proverb.
To know more about the YuTru Scheme and its benefits for your organisation, contact our team at info@yutru.org.pg or visit our website at https://yutru.org.pg/