The use of crypto and/or virtual currency is often associated with criminal activity. While that is not true in all cases, institutions are tasked with implementing a BSA/AML/CFT program that can help weed out the good from the bad and mitigate the risk. Crypto/virtual currencies are still fairly new but are becoming more prevalent all the time which means financial institutions need to understand how they work and what to be on the lookout for. In this crypto/virtual currency world, you often hear of “darknet marketplaces”. Google says a darknet marketplace is an online platform on the dark web that functions like a traditional e-commerce site but facilitates the buying and selling of illicit goods and services anonymously. These markets use encryption and anonymity-enhancing software to protect the identities of both buyers and sellers and often use cryptocurrencies for payment.
Kevin explains more in the video.
Published
2025/12/15