CipherTrace for Financial Institutions (Tier I)
About this webinarCipherTrace for Financial Institutions (CTFI) helps you develop a prudent and risk-based approach to your interactions with the virtual currency economy. CTFI Training is separated into two categories: Tier I and Tier II. Tier I is a one-day training designed to give banks the necessary knowledge to identify, assess and mitigate cryptocurrency risk exposure. Tier II is meant to build on the knowledge gained in Tier I to further your understanding of regulations and teach you best practices for onboarding and monitoring crypto entities so that your institution can develop the best risk-based approach for its risk appetite. Tiers I & II can be combined for two full-day training sessions. CTFI Tier I CTFI Tier I was designed to deliver the necessary knowledge base FIs need in order to have the ability to comply with regulatory requirements for identifying, assessing and mitigating cryptocurrency risk exposure. CTFI Tier I graduates will:
- Learn the basics of blockchain and its underlying technology, presented in a non-technical manner.
- Evaluate the different types of Crypto Entities (VASPs) in the Ecosystem.
- Understand their institution’s crypto-related regulatory responsibilities and what regulators expect from FIs.
- Learn how to identify digital asset customer and payment to cryptocurrency MSBs
- Know how to conduct a risk assessment of crypto flows in their institution.
- Learn the best practices for onboarding crypto entities.
- Be able to evaluate entity risk before onboarding.
- Learn the best practices for risk reviews and monitoring of crypto entities.
- Understand AML and FinCrime trends in crypto.