Due to the growth in the popularity of virtual currencies and the accompanying potential for money laundering, FinCEN issued guidance to "clarify the applicability of the regulations implementing the Bank Secrecy Act (“BSA”) to persons creating, obtaining, distributing, exchanging, accepting, or transmitting virtual currencies." The key to managing your BSA risk is to fully understand what virtual currencies are and what threat they pose to your institution.
- What is virtual currency?
- What are the different types of virtual currency?
- What's the difference between currency and virtual currency?
- How can money be laundered using virtual currency?
- How does virtual currency affect your BSA / AML program?
- Does all virtual currency have to be considered?
- What does the FinCEN guidance require me to do?
- And much, much more . . .
Who Should Attend
This informative session is designed for BSA Officers and Staff, Risk Management Officers and Staff, Compliance Officers and Staff, Retail Operations Managers, and Internal Auditors and Staff.
Course Level: Beginner/Intermediate