Baltic Compliance Association’s Post

To learn more about how firms can ensure they are not facilitating the use of crypto for money laundering, evading sanctions or other illicit purposes join our Policy Advisor Suzanne Morsfield, PhD CPA and BNY Mellon's Kate Ng for a fireside chat at next week's Financial Services Investigations & Enforcement 2024. 🎟️ Limited tickets remain! Secure yours now: https://shorturl.at/ncsX2 We look forward to what is sure to be an insightful exploration of strategies to ensure compliance and combat illicit crypto activities. #crypto #blockchain #digitalassets #AML #CTF #cryptoregulation #sanctionscompliance #consumerprotection

XBO featured on FintechMode: setting the benchmark in AML compliance We’re excited to share that XBO.com has been featured on FintechMode for our exceptional commitment to Anti-Money Laundering (AML) compliance. 🌐 In partnership with Elliptic, a globally recognized leader in AML technology, we’ve taken major strides toward enhancing security and transparency in the crypto space. By integrating Elliptic’s advanced blockchain analytics, we ensure that every transaction on XBO’s platform is secure, trustworthy, and compliant with global regulations. 🔐 As the industry evolves, it’s partnerships like this that enable us to stay at the forefront of the crypto ecosystem, providing both seasoned traders and newcomers with the peace of mind they need in a secure trading environment. We’re proud to set a new standard in compliance and transparency for the future of digital finance. Read the full article on FintechMode to learn more about how we’re shaping the future of AML standards in crypto. #XBO #FintechMode #AMLCompliance #CryptoSecurity #Elliptic #BlockchainSecurity #DigitalFinance

Crypto #attribution refers to the process of identifying the source of cryptocurrency transactions and linking them to specific entities or individuals. This practice is crucial for #enhancingtransparency, improving #regulatorycompliance, and combating #illicitactivities like money laundering and fraud within the crypto ecosystem. By providing insights into transaction flows, crypto attribution fosters #trust among users and investors, potentially leading to broader adoption. However, it raises concerns around #privacy and #surveillance, as it can expose users to unwanted #scrutiny. Balancing the benefits of attribution with the need for user privacy is essential for a #healthy and #sustainable #cryptoenvironment. #FI #NBFI #SCA #VARA #DFSA #FSRA #Cryptosecurity #ML #CFT #PF #WMD #Clustering #Globalcompliance #Techadvancement

🚨 Introducing AML Watcher’s Game-Changing Crypto Wallet Address Screening Feature! 🚨 Anonymity in the crypto space is no longer a challenge! With AML Watcher’s newly launched Crypto Wallet Address Screening, you can now screen wallet addresses against all global sanctions, adding an extra layer of security to your operations. 🛡️ 🔍 It’s as simple as navigating to the "Create New Case" tab, selecting "Crypto Wallet Screening" under Entity Type, entering the wallet address, and hitting Search to investigate. This proactive approach helps you block risky transactions and onboard customers with confidence. Ready to enhance your compliance process? 💬 Let’s schedule a demo with AML Watcher and see how it works! #CryptoSecurity #AMLCompliance #Blockchain #Crypto #KYC #FinancialCrime #RiskManagement #Fintech #RegTech #SanctionsScreening #Cryptocurrency

Real-world crypto crime typologies? What's money mules? ⬇ ⬇ ⬇ ⬇ ⬇ Did you check, we are having a new webinar next week! Crystal Intelligence team—Nick Smart and Federico Paesano—and Chainar's Margareta K. We’ll be diving into this topic, so grab your spot before it's too late. Here’s what our team will cover: ➡ How #blockchainintelligence helps navigate #cryptocompliance challenges ➡The investigative process to achieve successful outcomes ➡Real-life case studies to help you spot suspicious activities on blockchain networks ➡Best practices in compliance frameworks to meet regulations and enhance security 🗓️ When? Date: 13 June Time: 14:00 CEST Why Attend? ➡Learn how to uncover and #investigate #cryptocrime in compliance cases. ➡Understand what #suspiciousactivities on the #blockchain look like. ➡Discover best practices for #complianceframeworks to meet #regulations. 👉 Save your spot now! https://lnkd.in/dx2JYzyp Looking forward to seeing you there! #CryptoCompliance #BlockchainIntelligence #CryptoInvestigations #Webinar #Fintech #LawEnforcement #Compliance

Great meeting Reinis Znotins at RIGA COMM 2024! We had the opportunity to discuss The Latvian Blockchain Association (LBAA)’s tremendous work in making Latvia a leading Crypto Hub in Europe. 🚀 In these fast-evolving times, the Baltic Compliance Association stands out as a team of AML and security audit professionals. We're ready to support businesses in meeting DORA regulation requirements and ensuring compliance with confidence. Let's drive secure, sustainable growth in the crypto sector together! #RIGACOMM2024 #CryptoHub #LatviaCrypto #AMLCompliance #DORARegulation #SecurityAudits #CryptoRegulation #ComplianceExperts #BalticCompliance #Fintech #BlockchainCompliance #FinancialRegulations #SustainableGrowth #CryptoBusiness #AMLExperts #CryptoSecurity #LicensingSupport

Crypto Compliance in Action: The BitLicense One of the clearest examples of regulatory oversight in the crypto world is the BitLicense introduced by the New York Department of Financial Services in 2015. Here’s what it means: 🔑 What is the BitLicense? It’s a regulatory framework that requires crypto businesses operating in New York to comply with strict AML, KYC, and cybersecurity standards. Companies must disclose key details about their operations, ownership, and how they protect customers. 📜 Why it Matters: The BitLicense ensures that crypto businesses in New York are accountable, transparent, and compliant with both state and federal laws. It’s one of the first major regulatory efforts aimed at making the crypto space safer and more trustworthy. 💬 The Takeaway? As crypto evolves, regulatory frameworks like the BitLicense are setting the stage for greater transparency and compliance. What do you think—is this the future of global crypto regulations? Will other states adopt a similar approach? #CryptoCompliance #BitLicense #Blockchain #AML #KYC #CryptoRegulation #FinTech

🚀 We’re live with Session #2 of our Crypto & Risk Master Class! Join us as Jim Lee, Global Head of Capacity Building at Chainalysis, kicks off today's session. Don’t miss out—there’s still time to register! Today’s topics include: Differences with traditional banking in practical aspects. Differences between KYC, KYT, and fiat transactional monitoring. Risk-based approach and EDD for high-risk customers in the crypto industry. Challenges of operating in multiple jurisdictions. Challenges when opening bank accounts for exchanges. What’s next in the crypto compliance industry? Later in the session, we'll hear from María Celeste Plee (Director of Compliance at Bitso), Delfina Chain M (Founder & CEO at Chaindots), and Brennan L. (Head of Law Enforcement Relations at AnChain.ai). Log in: https://lnkd.in/dZSwZqZP Register now: https://lnkd.in/dEs9KkRq #CryptoRisk #Blockchain #CryptoCompliance #RiskManagement #KYC #KYT #AML #RegTech #RiskHubAmericas

A new report from FIU Sweden highlights the growing risk posed by illicit crypto exchange providers, who are often key players in money laundering schemes. These unlicensed operators enable the conversion of criminal proceeds into cryptocurrency or vice versa, bypassing traditional financial controls. Their activities have an international scope and are deeply integrated into various forms of organized crime, including fraud, drug trafficking, and sanction evasion. Key insights: ▪ Four main profiles of illicit crypto exchange providers were identified: Node, Hawala, Asset, and Platform exchange providers. ▪ The demand for these services remains high, contributing significantly to the criminal economy. ▪ Effective monitoring and enforcement are essential to mitigating the risks posed by these actors. Read the full report below 👇 #AML #CryptoRisks #MoneyLaundering #FinancialCrime #Compliance #RiskManagement

🚨 𝗖𝗿𝘆𝗽𝘁𝗼 𝗙𝗶𝗿𝗺𝘀: 𝗕𝗿𝗮𝗰𝗲 𝗳𝗼𝗿 𝗡𝗲𝘄 𝗟𝗶𝗰𝗲𝗻𝘀𝗶𝗻𝗴 𝗥𝘂𝗹𝗲𝘀 𝗶𝗻 𝗔𝘂𝘀𝘁𝗿𝗮𝗹𝗶𝗮 🚨 ASIC is preparing to extend licensing obligations to a wider range of crypto firms, signaling a major #regulatory shift. The move follows concerns over risks in the crypto space, including #scams, and aims to provide more consumer protection. 𝙆𝙚𝙮 𝙋𝙤𝙞𝙣𝙩𝙨: 🔎 Many crypto assets will be classified as financial products under the Corporations Act. 🔎 ASIC's "Information Paper 225" will be updated by November for clarity on #crypto regulation. 🔎 Over 7,300 #scam websites have been taken down since July, 615 linked to cryptocurrency. 💡 𝙒𝙝𝙖𝙩 𝙄𝙩 𝙈𝙚𝙖𝙣𝙨:  Crypto businesses need to stay ahead of these changes. #Compliance under both the Corporations Act and AML/CTF requirements will be crucial. Source: https://lnkd.in/gevvQHRM