CRYPTO AND WEB3
COMPLIANCE
SYMPOSIUM 2024

VIRTUAL EVENT | JUNE 12, 2024

ABOUT THE EVENT

Blast off with ACFCS as we explore the newest fincrime compliance trends and illicit finance risks that accompany crypto’s latest resurgence, and learn what that means for your organization and
career.  

In one day filled with knowledge and expert viewpoints, you’ll learn the latest strategies to take on fraud threats like pig butchering that are plaguing fintech and crypto firms, perspectives on what it takes to build strong CDD and KYC in an online-only context, views from regulators on sanctions compliance and other top areas of focus, and how to update your skills in light of a transforming financial world.  

On June 12, we’ll be your mission control as you take a trip through dynamic panels, case studies and lively discussions on topics like:  

  • Darknets, Big Business, Crypto Fraud - How Darknet Markets Fuel Fraud Risks and What to Do About It
  • Pig Butchering – Countering a Fraud and Human Trafficking Crisis
  • Mixing, Tumbling and Blacklisting - Sanctions Enforcement and Trends in Crypto and Web3
  • From Crypto to Nukes - A Case Study of North Korean Crypto Crime
  • And much more

Fintech, crypto and Web3 are diverse and rapidly developing fields, and it’s likely you have some questions! That’s why all sessions are built with interaction and dialogue in mind, from extended Q&A to case studies and short practical exercises. You’ll also leave with resource guides, job aids and practical takeaways to help with further learning and development.

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Top Sessions

Darknets, Big Business, Crypto Fraud - How Darknet Markets Fuel Fraud Risks and What to Do About It

Pig Butchering – Countering a Fraud and Human Trafficking Crisis

Mixing, Tumbling and Blacklisting - Sanctions Enforcement and Trends in Crypto and Web3

From Crypto to Nukes - A Case Study of North Korean Crypto Crime

WHY ATTEND?

With up to 7 continuing education credits, a stacked roster of expert presenters, networking opportunities and topics that help you excel on the job, this is the event you need to be ready for crypto’s moonshot. In a jam-packed day, you’ll find:  

  • Content and training for all levels of crypto knowledge - Whether you’re crypto-curious or a blockchain pro, you’ll find something of value in an event that’s designed for a broad range of expertise.

  • Dynamic conversations with the member community - All sessions feature Q&A and interactivity, polling resource guides, and more. Jump in the chat and join in the polls to learn what’s top of mind for the global ACFCS member community!

  • Connections to build your career – Make connections on the event platform, hear hiring and career trends from speakers, and help your career take off in fincrime and crypto compliance.

WHO SHOULD ATTEND

Now in its fifth year, the symposium has drawn a healthy mix of crypto firms, fintechs, law enforcement, regulators and traditional financial institutions (especially banks, MSBs and securities firms). As a virtual event, we expect a larger and more varied audience than ever before. It’s a gathering point for new and old players in the financial industry to meet, exchange ideas and push things forward in financial crime risk management.  

Some examples include:  

  • Financial Crime Compliance (FCC) officers, managers, and analysts
  • AML officers, managers, directors, analysts
  • Directors, analysts, and other roles in financial intelligence units
  • Chief Compliance Officers
  • Internal and external auditors
  • Fraud managers, investigators, and analysts
  • Professionals in threat intelligence roles
  • Law enforcement
  • Regulators
  • Investigators or analysts in intelligence agencies or military with a nexus to financial crime

AGENDA

9:00 AM – 10:15 AM
Welcome and KeyNote - Hogwash: Unraveling Pig Butchering Scams Through Public-Private Partnership

Pig Butchering scams have emerged as a significant challenge within the cryptocurrency landscape, posing risks to investors, businesses, and regulatory authorities alike. In this session, we'll delve into the intricacies of these fraudulent schemes and highlight the importance of cooperation between government agencies, law enforcement, and industry stakeholders in addressing this issue.

You’ll learn:

  1. Understanding Pig Butchering Scams: Gain insights into the tactics, strategies, and red flags associated with Pig Butchering scams. Learn how fraudsters manipulate markets, deceive investors, and exploit regulatory loopholes to perpetrate these schemes.

  2. The Role of Public and Private Sectors: Explore the unique contributions and responsibilities of the public and private sectors in combating Pig Butchering scams. Understand how government agencies, regulatory bodies, cryptocurrency exchanges, and industry associations can collaborate to enhance detection, prevention, and enforcement efforts.

  3. Building Trust and Collaboration: Discover strategies for fostering trust and collaboration between public and private sector entities. Explore successful case studies and best practices for information sharing, joint investigations, and coordinated regulatory actions.

  4. Regulatory Frameworks and Compliance Measures: Examine the regulatory frameworks and compliance measures aimed at addressing Pig Butchering scams. Discuss the role of regulatory enforcement, licensing requirements, and compliance standards in promoting market integrity and investor protection.

10:30 AM – 11:30 AM
Crypto and Laundering: What does money laundering look like in a crypto world?

As crypto usage increases and digital assets become intertwined with the existing financial sector, a growing number of professionals need an in-depth understanding of cryptocurrency financial crime risks.

The Crypto Compliance Specialization from ACFCS provides you with the training and knowledge you need to navigate crypto compliance with confidence. It enables professionals to identity fincrime risks posed by cryptocurrencies, understand compliance controls, and navigate the evolving regulatory framework around crypto.

Join this session to understand what you’ll learn in preparing for the specialization, what course materials and prep is included in the program, the steps to complete the specialization, and more. Come with your questions and get answers!

11:40 AM – 12:00 PM
C2S Q&A Session

As crypto usage increases and digital assets become intertwined with the existing financial sector, a growing number of professionals need an in-depth understanding of cryptocurrency financial crime risks.

The Crypto Compliance Specialization from ACFCS provides you with the training and knowledge you need to navigate crypto compliance with confidence. It enables professionals to identity fincrime risks posed by cryptocurrencies, understand compliance controls, and navigate the evolving regulatory framework around crypto.

Join this session to understand what you’ll learn in preparing for the specialization, what course materials and prep is included in the program, the steps to complete the specialization, and more. Come with your questions and get answers!

12:10 PM – 1:10 PM
Darknets, Big Business, Crypto Fraud - How Darknet Markets Fuel Fraud Risks and What to Do About It

In the shadowy world of the dark web, just about anything is for sale - if you know where to look, and have the coin to pay for it. More often than not, that coin is cryptocurrency, the fuel for online underground economies.

Darknet markets rose to infamy after high-profile busts of drug bazaars like Silk Road, and while narcotics remain readily available on the dark web, these markets have evolved and diversified. Today, darknet markets also offer a wide array of data, services and materials for use in frauds and scams. From stolen data, to training kits, to “fraud-as-a-service” offerings, darknet markets have played a role in the explosive rise of fraud in recent years.

What’s available on these markets, how do they increase identity theft and fraud threats, and how can financial institutions understand their operations to manage the risks they pose? In this session, get an insider’s view of the darknet with an IRS-CI agent, as she explains these illicit economies so that you can better protect your organization and your customers.

1:10 PM – 1:30 PM
Speed Networking

1:30 PM – 2:30 PM
From Crypto to Nukes - A Case Study of North Korean Crypto Crime

For a country that lacks internet access for the vast majority of its population, North Korea is an unlikely home for some of world’s most prolific and successful cybercriminals.

Desperate for funds to evade sanctions and fuel its weapons programs, the North Korean government has tasked cyber thieves with hacking crypto exchanges, DeFi hubs, and more. Over $2 billion has been stolen in crypto over the last five years, with $200 million in 2023 alone.

Those stolen funds not only power North Korea’s nuclear weapons program, but also flow through the formal financial system, including centralized crypto exchanges and banks.

While sobering, this reality also means that financial institutions can play a role in countering North Korean crypto-crime and weapons proliferation – it’s not just a problem happening in the crypto-verse.

Join us as experts explore the latest developments in North Korean’s cybercrime spree, and give insights on how to detect and prevent illicit flows tied to North Korean cyber actors.

2:40 PM – 3:40 PM
Ransoms, Mixing and Blacklisting - Sanctions Enforcement and Trends in Crypto and Web3

The crypto and Web3 world may be virtual, but real-world geographies matter for fincrime compliance programs, especially when it comes to sanctions.

Compliance with sanctions has been a key theme of recent enforcement actions against crypto exchanges and fintechs, and a key challenge for many of these firms. Amid turbulent geopolitical climate, and continued use of crypto for sanctions evasion and fundraising by North Korea and Russia, strong KYC and screening controls are critically important for the crypto sector.

In this session, hear from an OFAC compliance expert as she provides perspective on trends and priorities in crypto and sanctions. You’ll hear updates on ransomware risks and compliance considerations, lessons from recent OFAC enforcement actions, and more.

3:40 PM – 4:00 PM
Speed Networking

4:00 PM – 5:00 PM
Crypto vs. TradFi: Who knows their customers better? - What Crypto Firms Can Teach TradFi About KYC/CDD

The world of traditional finance (TradFi) has a decades-long head start on KYC/CDD, but the crypto sector has an appetite to innovate, and the ability to adopt new approaches without relying on legacy systems and data. When it comes to knowing their customers, who’s getting it right - banks or crypto firms?

Join us for this lively session and friendly debate as we explore key differences and similarities between KYC/CDD practices in crypto and TradFi, and examine what each sector can learn from the other. Expert panelists will:

  • Explore the unique challenges and opportunities associated with KYC/CDD in the cryptocurrency sector

  • Examine the approaches taken by cryptocurrency firms to enhance customer identification and due diligence

  • Analyze regulatory trends and requirements shaping KYC/CDD practices in both crypto and TradFi, and their implications for businesses and customers.

  • Discuss strategies for fostering collaboration and knowledge sharing between crypto and TradFi firms to strengthen KYC/CDD practices and enhance financial integrity.

 
 

5:00 PM – 5:45 PM
Closing Reception

After a full day of learning, networking and knowledge-sharing, it’s time to celebrate! Join us for fun, prizes and a glimpse at what’s coming next for ACFCS in this celebration of crypto compliance and the professionals who power it.

FEATURED SPEAKERS

Joe Ciccolo

BitAML

Erin West

Santa Clara County, Office of District Attorney

Brandi Reynolds

Bates Group

Kristen Berg

Senior Sanctions Compliance Officer

OFAC

Chris Janczewski

TRM Labs

Ryan Griffith

AlixPartners

Doraliza Martinez

Special Agent, Cyber Investigations Unit

IRS-CI

Joanna Marathakis

Senior Director, Compliance Operations

Circle

Alona Katz

Chief of the Virtual Currency Unit

Brooklyn District Attorney's Office

Nick Carlsen

Senior Investigator

TRM Labs