In 2020, FinCEN Director Kenneth A. Blanco made it clear that banks must understand their exposure to cryptocurrencies and outlined steps they must take to mitigate associated risks, saying, “Banks must be thinking about their crypto exposure as well. These are areas your examiners, and FinCEN, will ask you about when assessing the effectiveness of your AML program.” Our own polling indicates that nearly four out of five financial institutions cannot confidently identify the crypto on their payment rails.

• review FinCEN’s guidance
• discuss how crypto intelligence influences AML compliance
• explore case studies of the detection of illicit crypto MSBs
• show how CipherTrace can help you satisfy your examiners in 2021