Archived Webinar

Anatomy of a Crypto Scam

Traditional Fraud Scams with Modern Methods

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Originally Presented: February 2, 2023

As digital assets such as virtual currencies become more mainstream within the financial industry, cryptocurrency is increasingly accepted as a new payments channel. Meanwhile, criminals leverage cryptocurrency as a vector to launder money and to evade sanctions, relying on tried-and-true methods to defraud their victims. Financial institutions and crypto companies need to stay informed of emerging and related financial crime trends used in cryptocurrency scams to protect themselves and their customers. This discussion provides an insightful overview of industry and financial crime developments surrounding cryptocurrency fraud trends and why a holistic approach is essential to detect and manage crypto-related fraud.

Learning objectives:

  • Exploring the growing popularity of cryptocurrency as a payments channel and the parallel rise of crypto-related scams and trends.
  • Discussing the challenges financial institutions and crypto companies face in keeping pace with fraud and money laundering risks, and how to prepare anti-financial crime programs for cryptocurrency related fraud scams.
  • Considering how financial institutions and crypto companies can develop a holistic approach to crypto-related fraud detection and management.

Tagged as...

  •   BSA/AML Compliance
  •   Cryptocurrency
  •   CTRs

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