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Avoiding Risky Collisions at the Crypto & Bank Intersection 2022

Avoiding Risky Collisions at the Crypto & Bank Intersection 2022

This session will look at how and where cryptocurrency activity can be detected in traditional financial operations, and how the detection of those flows can give increased visibility into criminal actors, detect unregistered and illicit cryptocurrency businesses that may be using accounts at your bank, and understand how to appropriately conduct CDD/EDD on customers buying/selling cryptocurrencies. (Rec. 2/1/22)

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Webinar Description

Recorded:   February 1, 2022   

This session will look at how and where cryptocurrency activity can be detected in traditional financial operations, and how the detection of those flows can give increased visibility into criminal actors, detect unregistered and illicit cryptocurrency businesses that may be using accounts at your bank, and understand how to appropriately conduct CDD/EDD on customers buying/selling cryptocurrencies. Extensive research by CipherTrace Labs in 2019 uncovered individuals operating illicit crypto MSBs at 8 of 10 US retail banks.

Cryptocurrencies are P2P, pseudonymous global currencies that serve as alternative payment and investment rails to the traditional financial institutional infrastructure. The U.S. Department of Justice's Cryptocurrency Enforcement Framework distinguishes three main categories in the illicit use of cryptocurrencies:

  • using cryptocurrency directly to commit crimes or to support terrorism;
  • using cryptocurrency to hide financial activity, such as evading taxes or operating an unregistered MSB;
  • or committing crimes within the cryptocurrency marketplace itself.

Yet cryptocurrency activity frequently goes unnoticed in banks' ACH, SWIFT, wire, and credit card payment networks. At an event in September 2020, Director Kenneth Blanco of the Financial Crimes Enforcement Network emphasized that FinCEN examiners will be looking for evidence that banks are aware of and actively carrying out their responsibilities vis-a-vis cryptocurrency.

  • Your registration includes:
  • A copy of the presentation materials
  • Unlimited video replay

 

Refund Policy:

If you will have any issues with attending the simulcast, we offer a No Questions Asked Refund Policy any time before the start of a live simulcast.

 

CBANC Complaint Policy:

The goal of CBANC Education is to provide quality educational content and excellent service to our users.  If you have any questions or concerns regarding the quality of our content or service, please contact us at support@cbancnetwork.com.

Webinar Description

Recorded:   February 1, 2022   

This session will look at how and where cryptocurrency activity can be detected in traditional financial operations, and how the detection of those flows can give increased visibility into criminal actors, detect unregistered and illicit cryptocurrency businesses that may be using accounts at your bank, and understand how to appropriately conduct CDD/EDD on customers buying/selling cryptocurrencies. Extensive research by CipherTrace Labs in 2019 uncovered individuals operating illicit crypto MSBs at 8 of 10 US retail banks.

Cryptocurrencies are P2P, pseudonymous global currencies that serve as alternative payment and investment rails to the traditional financial institutional infrastructure. The U.S. Department of Justice's Cryptocurrency Enforcement Framework distinguishes three main categories in the illicit use of cryptocurrencies:

  • using cryptocurrency directly to commit crimes or to support terrorism;
  • using cryptocurrency to hide financial activity, such as evading taxes or operating an unregistered MSB;
  • or committing crimes within the cryptocurrency marketplace itself.

Yet cryptocurrency activity frequently goes unnoticed in banks' ACH, SWIFT, wire, and credit card payment networks. At an event in September 2020, Director Kenneth Blanco of the Financial Crimes Enforcement Network emphasized that FinCEN examiners will be looking for evidence that banks are aware of and actively carrying out their responsibilities vis-a-vis cryptocurrency.

  • Your registration includes:
  • A copy of the presentation materials
  • Unlimited video replay

 

Refund Policy:

If you will have any issues with attending the simulcast, we offer a No Questions Asked Refund Policy any time before the start of a live simulcast.

 

CBANC Complaint Policy:

The goal of CBANC Education is to provide quality educational content and excellent service to our users.  If you have any questions or concerns regarding the quality of our content or service, please contact us at support@cbancnetwork.com.