If you’ve been paying attention, crypto/virtual currency has been coming up more and more. Not only are financial institutions starting to see their customers take part in this but banks will also likely be faced with whether they want to get involved in crypto-asset activities in the future. Is your BSA/AML program ready?
On February 8th, the Department of Justice announced the arrest of a New York couple for conspiring to launder stolen cryptocurrency. Over $3.6 billion in cryptocurrency was seized in what was the DOJs largest ever financial seizure. While the details of this scheme are quite complex, our “crypto guy”, Consultant Kevin Edwards, summarized it quite nicely during our recent webinar, “BSA/AML: Crypto/Virtual Currency”. Check it out:
Published
2022/02/22