Complimentary for ACFCS members, non-members $35
This is the second webinar in a three-part series on AML, the blockchain and virtual currencies.
Presented by Joe Ciccolo, Founder and President of BitAML, and Pawel Kuskowski, CEO and Co-Founder of Coinfirm
While virtual currencies and the blockchain continue to draw interest from a wide array of groups as a potentially transformative force in world finance – including banks, regulators and investors – that fervor is equally enticing to criminal groups.
Criminals believe they can use virtual currencies, such as Bitcoin, to engage in anonymous transactions and liaise with darknet sites awash with illegal items. As well, with more entities engaging in initial coin offerings (ICOs), it can be difficult to know which operations are solid investments and which are potentially fraudulent.
But these innovations mean new pressures on financial crime compliance professionals, whether they are the financial crime compliance officers working for virtual currency exchanges or banks holding the accounts of such businesses. With the sector changing so rapidly, even the most seasoned compliance professionals can be hard-pressed to keep up.
In this webinar, expert speakers will explain in practical terms the current state of play in the world of Bitcoin and the blockchain, provide insights on compliance controls, and describe how these technologies could change compliance in some areas for the better. They will also touch on how to use the blockchain for customer due diligence and risk scoring, along with analyzing the fervor, and fraud risk, around virtual currency initial coin offerings (ICOs).
Attendees will learn:
- What Bitcoin is and how it works - A quick recap
- Bitcoin as an AML auditing tool
- How to do KYC and risk ranking using the blockchain
- Virtual currency initial coin offering (ICO) fraud and AML risks
- The red flags of a virtual currency and ICO fraudster
- Risks and KYC around third-party deposits
- Creative ways investigators are getting access to Bitcoin wallets
- How bank policies and procedures are adapting to the age of digital currency
About the Presenters
Joe Ciccolo, Founder & President of BitAML
Joe is an accomplished AML regulatory compliance expert and has spent the last several years building, developing and implementing successful AML compliance programs for both financial and non-financial institutions.
Prior to launching BitAML, Joe was a founding member of the BSA/AML program of a top 100 U.S.-based financial institution. He also served as a project manager for a top 20 global bank, where he led several regulatory and audit remediation projects. Before entering the field of BSA/AML, Joe held leadership positions across various risk management disciplines, including vendor due diligence, fraud prevention, and corporate investigations.
Paweł Kuskowski, CEO & Co-Founder, Coinfirm
Pawel is an entrepreneur, financial crime and compliance advisor and thought leader in the area of regulatory risk. Pawel has extensive expertise in anti-money-laundering compliance, conducting global projects for international financial institutions and cooperating with supervisory authorities. He is also the chairman of the Compliance Association of Poland and a member of the advisory board of the International Compliance Association.
This session provides one CFCS credit.