Print This Event Print This Event

    Cryptocurrency Crime: Investigating and Mitigating the Risks of Illegal Domestic and Cross-Border Activities

    About this webinar

    There are now more than 5,000 cryptocurrencies in circulation, fueling an exploding $200 billion industry. Clearly it is a boom time for virtual asset service providers, or VASPs, like cryptocurrency exchanges and wallet providers. Despite its notoriety, mystique still surrounds cryptocurrency, from its use of blockchain to the benefits and weaknesses of trading decentralized money, to national security implications. With crypto’s rise comes global implications. Its use often makes its way into headlines about criminal activity. There are many upsides to cryptocurrency but with crypto’s rise comes global implications. Shortcomings generally are human ones; intermediaries, like unregulated exchanges, create vulnerabilities. The ability to use pseudonyms in executing crypto transactions makes it ideal for bad actors, criminal syndicates, and terrorists. The risk of money laundering and terrorism financing is increased through “chain-hopping,” or “quick exchanges between different virtual assets,” which “allows the multiple layering of illicit funds within a short timeframe, allowing money laundering networks to disguise the origins of funds and launder illicit proceeds.” This fast-changing technology is sometimes outpacing law enforcement agencies and the intelligence community, challenging their ability to detect, monitor, and stop cybercrime. But criminals have no reason to rest easy. A former stockbroker recently learned that the hard way. Following a multi-agency federal investigation, he quickly pleaded guilty to running a $33 million cryptocurrency scam. Three exceptionally qualified speakers are enlisted to discuss:
    • Compliance and regulations,
    • Criminal liability risks,
    • Federal prosecutions,
    • Lessons from white-collar crime,
    • Risk analysis and mitigation,
    • Forensic analysis,
    • Blockchain analysis tools,
    • The FATF Travel Rule,
    • Tracing cross-border wire transfers.

    The event is finished.


    Sep 21 2021


    11:00 am - 12:00 pm