We are excited to announce that FINTRAIL and Elliptic have partnered up to launch the ‘Cryptoasset Compliance Virtual Bootcamp’ series.
This bootcamp series will focus on the key pillars that we see as vital to a strong cryptoasset financial crime risk management framework.
Session 3 of 3: Systems and Controls - Managing Your Cryptoasset Risks in Practice
Managing cryptoasset risks requires access to systems and controls that can detect and protect against bespoke risks. Your compliance team should be working to solve the following questions:.
For cryptoasset businesses, do you have access to these bespoke cryptoasset monitoring tools tools, and are they configured appropriately to your business needs?
For banks and fintechs, are you able to detect and assess risks related to counterparties who may be dealing in cryptoassets? Solutions exist that can enable you to do so, but they require expertise your business may not possess.
Filing SARs and undertaking reporting obligations related to cryptoassets can present specific challenges. Are you equipped to navigate these challenges?
Key takeaways: an understanding of what systems and controls are out there, and how they can fit into your wider anti-financial crime framework.