Case Studies: How Cryptocurrency Intelligence Tipped the Scales in 2020 Sanctions Evasion
Featured Speakers :
Pamela Clegg is the Director of Financial Investigations and Education for CipherTrace. Pamela works with governments, law enforcement officials, regulators, law firms and financial institutions around the world to conduct blockchain forensic investigations. Her Education group provides global training in the blockchain, investigation of financial crimes, money laundering and other criminal activity within the cryptocurrency ecosystem. In addition, she is in an internationally recognized expert in the use of cryptocurrency in human trafficking and other financial crimes. Pamela has conducted trainings and spoken on cryptocurrency and financial crimes globally, including presentations to INTERPOL, EUROPOL, and other international and federal organizations.
Complimentary webinar, presented by ACFCS and CipherTrace
Cryptocurrencies have quickly proven to be a lucrative modus operandi for state-actors looking to illicitly raise money and evade sanctions. In March 2020, a DOJ Verified complaint illustrated how North Korea launched sophisticated attacks on cryptocurrency exchanges to finance their WMD program by laundering hundreds of millions of dollars’ worth of the stolen cryptocurrency through several banks and cryptocurrency exchanges. An uptick in Iranian and DPRK state-sponsored ransomware has also led to OFAC issuing an advisory in October to alert companies that engage with victims of ransomware attacks of the potential sanctions risks for facilitating ransomware payments.
In this webinar, CipherTrace Director of Financial Investigations and Education will walk you through how investigators were able to utilize blockchain analysis tools to follow the illicit flow of funds and see exactly how state-actors moved stolen crypto to virtual asset service providers and, eventually, banks.
Join us and learn:
- What methods North Korean hackers used to steal, obfuscate, and launder their crypto
- The role banks played in converting crypto to fiat
- How ransomware is used to evade sanctions
- The risks financial institutions face by processing ransomware payments for customers
- Case studies of how blockchain analytics enabled investigators follow the flow of funds