North Korea’s Digital Heists – Crypto Crime and Risks to the Financial Sector
Featured Speakers :
Ari Redbord is the Head of Legal and Government Affairs at TRM Labs, the blockchain intelligence company. Prior to joining TRM, Ari was the Senior Advisor to the Deputy Secretary and the Undersecretary for Terrorism and Financial Intelligence at the United States Treasury. In that position, Ari worked with teams from the Office of Foreign Assets Control (OFAC), the Financial Crimes Enforcement Network (FinCEN), and other Treasury components to use sanctions and other regulatory tools effectively to safeguard the financial system from illicit use by terrorist financiers, weapons of mass destruction proliferators, drug kingpins, and other rogue actors, including Iran, Syria, North Korea and Venezuela. In addition, Ari worked closely with regulators, the Hill and the interagency on issues related to the Bank Secrecy Act, cryptocurrency, and anti-money laundering strategies. Prior to Treasury, Ari was an Assistant United States Attorney for the District of Columbia for eleven years where he investigated and prosecuted terrorism, espionage, threat finance, cryptocurrency, export control, child exploitation and human trafficking cases.
Joe is the Founder & President of BitAML, a compliance advisory firm exclusively serving the bitcoin and cryptocurrency market. BitAML clients include bitcoin ATM operators, cryptocurrency exchanges, traders and trading platforms, crypto hedge funds, lending platforms, and crypto-cannabis solutions.
He is a frequent guest speaker at both bitcoin and compliance industry events, and regularly conducts formal training for federal, state, and local law enforcement, as well as traditional retail and investment bankers on both cryptocurrencies and customer onboarding.=
Prior to launching BitAML, Joe was a founding member of the AML compliance program of a top 100 U.S.-based online financial institution. He also served as a project manager for a top 20 global bank, where he led several AML audit remediation projects. Before entering the field of AML, Joe held leadership positions across various risk management disciplines.
Joe is a Certified Anti-Money Laundering Specialist (CAMS), Certified Fraud Examiner (CFE), and Anti-Money Laundering Certified Associate (AMLCA). He is a graduate of Northeastern University, College of Criminal Justice.
Complimentary webinar, presented courtesy of Global Affairs Canada
Pressured by sanctions, the government of North Korea has turned to an unexpected outlet to generate funds and move money – theft of cryptocurrencies. Cybercrime groups with ties to North Korea have targeted cryptocurrency exchanges in recent years, with considerable success. In 2019, a UN panel estimated the country was responsible for over $500 million in funds stolen from exchanges.
Those looted funds are typically moved through exchanges and into the traditional financial sector, creating risks for both crypto firms and banks. In one notable case last year, the U.S. government took action against two Chinese nationals for their role in helping the North Korea-aligned Lazarus Group launder funds stolen in cryptocurrency exchange hacks. The DOJ listed 145 virtual currency accounts and addresses that were used to launder the funds, 20 of which were included in a sanction designation.
Join crypto expert and former federal prosecutor Ari Redboard as he explores how North Korean-affiliated groups target cryptocurrencies, how stolen funds are laundered, and where risks lie for institutions outside of the crypto space. This will be a free-wheeling conversation, so bring your questions and get answers!
This session is eligible for 1 CFCS credits.
Important note for ACFCS members: Please register using the same email address tied to your member account.