The world of crypto and/or virtual currency can be overwhelming. It’s still fairly new but it’s becoming more and more prevalent with your everyday customers, even those that aren’t particularly financially savvy. Not only are there new terms and concepts to understand, it’s also an area that is constantly evolving and changing. The speed of transactions and the relative anonymity provided has made virtual currency an attractive option for criminals and money launderers. A basic understanding of these types of higher-risk activities is essential because there are so many things to consider from a BSA/AML perspective.
What You’ll Learn
- Crypto Lingo Crash Course: Exchanges and Miners and Tumblers, Oh My!
- Understanding and Assessing the Risks
- Updating Your BSA/AML Program
- Customer Due Diligence: What Questions Should You Be Asking?
- Ongoing Customer Due Diligence and Updating the Customer Risk Profile
- Enhanced Customer Due Diligence
- Is This Crypto Business Also A Money Service Business?
- Red Flags for Virtual Currency Abuse and Spotting Unusual Activity
Who Should Attend
BSA/AML officers/teams, management, compliance officers, auditors, and other risk management personnel will value this course.