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BSA/AML: Crypto and Virtual Currency

Crypto and other virtual currencies are becoming more and more common. Understanding the risks involved and the regulatory expectations are an essential piece of your overall BSA/AML compliance program.

OnDemand
Recorded Wednesday,
September 4th, 2024
Presented by Kevin Edwards
2h total length
2.5 CRCM Credits
$299.00 or 1 Token

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

  • BSA
  • Compliance
  • Fraud
  • General Compliance
  • Risk Management/Legal
  • Technology/Security
  • Bank Secrecy Act Officer/BSA Specialist
  • Compliance Officer
  • Internal Auditor
  • Risk Manager
  • Senior Management
  • Training Manager
  • Trainer

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Crypto and other virtual currencies are inherently higher risk. Being higher risk, however, doesn’t necessarily mean that the activity itself or the customer relationship, as a whole, are bad.

There’s just more risk than there may be with other types of activity or customer relationships you may have. These do directly impact your BSA/AML compliance program and therefore it’s important that before you get into a relationship with a customer that is in the crypto/virtual industry, you need to make sure that you've done your due diligence to understand the customer, their business, their activity, etc.

What You'll Learn

  • Crypto Lingo Crash Course: Exchanges and Miners and Tumblers, Oh My!
  • Understanding and Assessing the Risks to Updating Your BSA/AML Program
  • Customer Due Diligence: What Questions Should You Be Asking?
  • Ongoing Customer Due Diligence and Updating the Customer Risk Profile
  • Enhanced Customer Due Diligence
  • Is This Crypto Business Also a Money Service Business?
  • Red Flags for Virtual Currency Abuse and Spotting Unusual Activity

Who Should Attend

This webinar is for BSA/AML officers, teams, management, compliance officers, auditors, and other risk management personnel.

Kevin Edwards

Instructor Bio

Kevin brings years of experience and a unique perspective on regulatory matters to his clients. A self-proclaimed geek and accredited CRCM, Kevin is also a former attorney with experience as in-house counsel for a large regional bank and one of the leading national title insurance providers. Kevin decided to leave the safety and serenity of his desk job to seek fortune and glory as a wandering adventurer. He now travels the land seeking to help those in need and righting compliance wrongs, wherever he may find them.

Continuing Education Credit Information

BSA/AML: Crypto and Virtual Currency has been approved for 2.5 CRCM credits. This statement is not an endorsement of this program or its sponsor. Credits are redeemable for both Live and OnDemand viewing. For questions on certificates, please email support@oncourselearning.com. Certification holders must report these credits at https://aba.csod.com.

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