Blockchain Forensics and Compliance: Two Peas in a Pod

Blockchain forensic analytics anti-money laundering

For businesses engaged in cryptocurrency, transaction monitoring is an important part of their compliance programs. Businesses such as Bitcoin ATM (BTM) operators should monitor transactions on an ongoing basis for suspicious activity such as money laundering and for connections to sanctioned parties. These businesses should also know that there are effective tools they can use …

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DOJ N. Korea Complaint Illustrates Virtual Currency Laundering Techniques, & US Government, Exchange Responses

North Korea Money Laundering Sanctions

The US Attorney’s Office for the District of Columbia’s recent civil forfeiture complaint against virtual currency allegedly stolen or laundered by North Korean actors illustrates money laundering techniques specific to virtual currencies. Just as significantly, the complaint demonstrates methods governments and financial institutions can use to prevent such schemes, or at least catch the perpetrators once the …

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Cryptocurrency Viewed Through the Three Stages of Money Laundering

bitcoin ethereum cryptocurrency anti-money laundering compliance

It’s not really necessary to rewrite the anti-money laundering manual for cryptocurrency, but a willingness to understand novels ways cryptocurrency can be used in the money laundering process will go a long way toward effective cryptocurrency AML practices. The same three stages used to describe the money laundering process involving cash (placement, layering and integration) …

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AML Risks Mean Financial Institutions Need Caution When Working with Cryptocurrency

bitcoin ethereum compliance risk

It is not a secret that cryptocurrency presents anti-money laundering and counter terrorist financing issues for financial institutions. But what is it exactly about cryptocurrency that makes it so risky? A 2018 Allen & Overy article explains the unique issues for financial institutions presented by cryptocurrency from an anti-money laundering perspective. In some respects, the challenges presented …

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Effective AML Compliance at Cryptocurrency Exchanges

There is a lot of talk in the emerging cryptoeconomy as to when regulations apply to crypto-oriented services, but when it comes to Anti-Money Laundering (AML), Know Your Customer (KYC), and Combating the Finance of Terrorism (CFT), there is also the question of what an effective cryptocurrency compliance program might look like. Craig Adeyanju at …

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