<h1>Virtual currency risks: users face security, legal, AML/CFT and payment-system uncertainties with no authorised recourse.</h1> The Reserve Bank cautions that Virtual Currencies are not authorised by any central bank, that operators lack regulatory approvals, and that users face electronic wallet security risks, absence of centralised dispute/charge-back mechanisms, price volatility, uncertain legal status of trading platforms, and AML/CFT exposure; the Bank is examining these activities under existing foreign exchange and payment systems laws and regulations.