CRYPTO AND WEB3
COMPLIANCE
SYMPOSIUM 2024

To be announced

Join us for an insightful webinar exploring the intersection of cryptocurrency and money laundering. As the use of digital currencies continues to rise, so too do concerns about illicit activities such as money laundering. In this session, we will delve into the complexities of financial crime in the digital age, focusing specifically on the methods and techniques used for laundering money through cryptocurrencies.

Our expert panelists will provide a comprehensive overview of the landscape, covering topics such as:

• Understanding the basics of cryptocurrency and blockchain technology.

• Exploring the anonymity and pseudonymity features of popular cryptocurrencies.

• Identifying common money laundering schemes and techniques in the crypto space.

• Analyzing real-world case studies of cryptocurrency-related money laundering.

• Examining the regulatory landscape and challenges for law enforcement agencies.

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.

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.

Key Topics Include:

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.

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.

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.