KIELTYKA GLADKOWSKI KG LEGAL TOOK PART IN WEBINAR ORGANISED BY DOW JONES RISK & COMPLIANCE ON CRYPTO AND COUNTER-TERRORIST FINANCING

Publication date: January 24, 2024

On January 24, 2024 KIELTYKA GLADKOWSKI KG LEGAL took part in the webinar organised by DOW JONES RISK & COMPLIANCE on Crypto and Counter-Terrorist Financing. The speakers provided examples and described in detail complex issues devoted to on chain analytics (after the fact); VASPs, forensics, looking retrospectively to find patterns that are indicative of certain activities; working out fraud detection; off chain analytics, proactive and preventive detection; ties in with FATIF, virtual assets, registry, screening.

The speakers explained the nature and complicated nature of decentralised distributed ledger, codified representation, problems with getting the addresses of the originators and beneficiaries of transactions, centralized intermediaries that control accounts, possibilities of freezing actions on crypto accounts, AML safety requirements regarding compliance, considerable vulnerability in AML compliance. Another topics discussed were the travel rules in place in cross border crypto transfers, effective travel plans rules, aspects of conversion from fiat to crypto and from crypto to fiat, identification of the source of funds as well as risks carried out by unregulated institutions.