Crypto compliance: The next AML risk frontier
Time: Available on demand (pre-recorded)
For legal professionals already tasked with keeping on top of AML and Source of Funds/Wealth regulations, cryptoassets are yet another risk factor to be managed.
In April this year, the government announced steps to make Bitcoin and other cryptocurrencies valid forms of payment in the UK. More than 2 million people in the UK have now invested in some form of cryptoassets. But the risk of fraud remains high in this market, with criminals laundering £6.4bn of cryptocurrency in 2021 worldwide (an annual increase of 30%).
Completing major transactions with the likes of Bitcoin alone may not be a reality for many today. But increasing levels of crypto ownership make it imperative for modern firms to have clear processes in place to stay compliant.
In this on-demand session, our panel of crypto and regulatory experts will offer their best practice advice on how to work with crypto and ensure your AML compliance obligations are met. Get a run down of the most relevant legislation related to this developing area of financing and ensure your firm’s approach is future-proofed for working with cryptocurrencies.
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