CRYPTOCURRENCY CRIME AND ANTI-MONEY LAUNDERING REPORT

Ciphertrace has published its May 2021 report which provides a review of crime involving cryptocurrencies, including the substantial use of cryptocurrency in sanctioned countries — most notably, Iran.  It says that OFAC has ramped up its enforcement actions against virtual asset service providers (VASP) for sanctions violations related to sanctioned countries, and that it is vital that institutions screen IP data to ensure they aren’t transacting with sanctioned entities and addresses.  In addition, the report identifies major trends and developments.

https://ciphertrace.com/wp-content/uploads/2021/05/CipherTrace-Cryptocurrency-Crime-and-Anti-Money-Laundering-Report-May-2021-051221b.pdf

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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