Cryptocurrency Red Flags: Using FATF and FinCEN Guidance to Spot Crypto Crimes
Featured Speakers :
Pamela works with governments, law enforcement officials, regulators, law firms and financial institutions around the world to conduct cryptocurrency financial investigations and to train and educate officials and employees to understand and investigate financial crimes, money laundering and other criminal activity within the cryptocurrency ecosystem.
Prior to joining CipherTrace, Pamela was the Assistant Vice President – BSA and Information Security for First State Bank. She also has over 10 years of international experience with investigations, due diligence and operations mostly in Latin America with the U.S. Government.
Pamela has her Certified Anti-Money Laundering Specialist (CAMS).She obtained her B.A. from the University of Texas at Austin and her MBA from the Universidad Autónoma de Madrid. She has conducted trainings and workshops, and spoken about cryptocurrency and financial crimes globally, to include speaking engagements at INTERPOL, UN, EUROPOL, Basel Governance, ACAMS, ACFCS and other international and federal agencies and organizations.
Complimentary webinar, presented by CipherTrace
Financial Action Task Force (FATF) and FinCEN provided guidance in 2020 for financial institutions in order to help those institutions identify and mitigate virtual currency risks. Financial crimes specialists can use these cryptocurrency red flag indicators of money laundering and terrorism financing to detect and report suspicious activity.
Cryptocurrency-related risks are not limited to virtual asset service providers. In September 2020, FinCEN Director Kenneth Blanco stated, “These risks are not unique to money services businesses or virtual currency exchangers; banks must be thinking about their crypto exposure as well. These are areas your examiners, and FinCEN, will ask you about when assessing the effectiveness of your AML program.”
The reality is that all banks process crypto payments, as virtual assets have become increasingly intertwined with traditional finance over the course of the last decade. A thorough knowledge of cryptocurrency red flags, combined with the ability to identify and monitor all virtual currency transactions within an organization, lays the groundwork to fully embrace this asset class without taking on undo risk.
Join us to learn:
- How to identify organizational exposure to crypto
- The red flags defined by FinCEN and FATF
- How to mitigate virtual currency risks