Everything AML Compliance Teams Need to Know About Crypto

June 7, 2021

Cryptocurrencies have gone from obscure to mainstream over the course of the decade. Banks can no longer ignore the risks—or forfeit the rewards—of the blockchain. A December 2020 survey by Cornerstone Advisors found that 15 percent of US consumers own cryptocurrency and that of those, 60 percent would use their bank to make such investments.

At the same time, regulators are stepping up pressure on financial institutions to identify and report any suspicious activity related to the exploitation of crypto currencies for money laundering, sanctions evasion, and other illicit financing purposes.

In this webinar, CipherTrace CEO Dave Jevans presents a complete primer for banks and financial institutions on how crypto transactions flow through the financial system, how crypto users and transactions evade detection and how to take a risk-based approach to this emerging financial instrument.

 

Disclaimer: The contents of this article are intended to provide a general understanding of the subject matter. It is not intended to provide legal or other professional advice, and should not be relied on as such. 

 

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