Financial Crimecast - Libra Is Coming: What it Means for Fincrime Professionals
Tuesday, August 13, 2019
Posted by: Brian Kindle
Facebook made big waves in the crypto world and beyond this June when it released plans for a new cryptocurrency, Libra. The system is still in the making, but once completed it would be rolled out to Facebook’s more than 2 billion users, bringing cryptocurrencies thoroughly into the mainstream and possibly challenging existing payment systems.
The announcement was met with excitement from some, and deep skepticism from others. Worries over financial crime risk were among the top concerns already voiced by regulators like the US Federal Reserve and legislators in both houses of Congress.
On this Financial Crimecast, Dr. Tom Robinson, Chief Scientist and Co-Founder of Elliptic, guides listeners on what Libra is, how it operates differently than other cryptocurrencies, and why it matters at all for those in AML, fraud and other fincrime roles. He gives insights on things that professionals can do right now to prepare for this potentially game-changing development.
About the Presenter
Dr. Tom Robinson, Chief Scientist and Co-Founder, Elliptic
Dr. Tom Robinson is the co-founder and chief scientist at Elliptic, the world’s leading crypto compliance company, which works to detect and prevent criminal activity around cryptocurrencies and track illicit Bitcoin activity. Elliptic’s blockchain intelligence products are used by cryptocurrency businesses and financial institutions around the world to ensure that the pseudonymous use of Bitcoin does not contribute to harming others. Robinson’s forensic analysis of bitcoin transactions has helped secure the convictions of cybercriminals and he has advised governments, tax authorities and regulators on crypto assets.