As the adoption of cryptocurrencies grows, financial institutions must be quick to update their anti-money laundering programs to implement appropriate controls to identify customers that may be transacting with cryptocurrencies, flag any unregistered crypto money services businesses (MSBs) that may be attempting to evade supervision and detect the one percent (or so) of crypto transactions that are associated with illicit activities.

This whitepaper takes a look at:

• Various types of cryptocurrencies in the market
• Some of the major cryptocurrency businesses or VASPs that financial institutions should know about
• What regulators, including FinCEN, are saying
• What financial institutions should do in order to take a risk-based approach to cryptocurrency

Download your free copy today.

About Alessa

Alessa is a compliance, controls monitoring and fraud prevention solution for banking, insurance, fintech, gaming, manufacturing, retail and more. With deployments around the world, Alessa allows organizations to quickly detect suspicious transactions, identify high-risk customers and vendors and decrease fraud risks that reduces profitability and increases costs. 

Why Compliance Professionals Prefer Alessa 
•    One integrated platform for AML compliance 
•    Get a daily update of customer risk  
•    Expedited processes through automation 
•    Access to world-class partners 
•    Automate up to 100% of your regulatory reporting 
•    Ongoing support from our highly skilled team