Virtual Assets or Cryptocurrencies

Money Laundering risks in Virtual Assets or Cryptocurrencies

Financial crime risks associated with digital financial services such as virtual assets and cryptocurrencies has become imperative for financial institutions to protect themselves from financial crime, as well as for policy makers and regulators to establish effective laws and regulations and to provide efficient guidance to the sector in combating financial crime.

Our Key Experts are specialised in

  • Identify ML/FT risks associated with new technologies, such as online banking, new payment platforms, prepaid cards, mobile payments, internet-based payment services, e-cash, internet casinos, as well as use and abuse of virtual currencies.

  • Drafting, reviewing and advising virtual asserts/cryptocurrencies laws, regulations and policies.

  • Provide technical assistance and/or comparative study of AML/CFT supervisory methodologies on virtual asset service providers (VASPs) with focus on good supervisory practices.

  • Develop and test a methodology to identify and assess the national ML/TF risks related to virtual assets (VAs) and virtual asset service providers (VASPs).

  • To develop and implement an effective financial crime risk management strategy and programme to prevent the abuse of digital financial services by criminals, including a discussion on best practices and lesson learnt from various jurisdictions.

  • Training and workshop of law enforcement agencies to identify, money laundering risks in virtual assets or cryptocurrencies.

Our training and workshops will be extremely useful and relevant to anyone who would like to enhance knowledge of financial crime risks in digital financial services, especially the staff of banking and other financial institutions, law enforcement agencies, financial intelligence units, fraud and compliance managers, risk management professionals, fintech firms, policy makers, regulators, consultants and senior practitioners.

Services