As crypto becomes more mainstream, ignoring it is not just impossible but potentially costly. It’s a double-edged sword: regulators are pressuring banks to identify cases of money laundering and sanctions evasion tied to cryptocurrency, and customers are eager to be able to invest in crypto through the financial institutions they already know and trust. However, financial intuitions risk fines and penalties for having crypto-related illicit transactions on their payment rails if they are not adequately able to mitigate the risk. In this session, CipherTrace VP of Financial Investigations, Pamela Clegg, will share an overview of the relationship between fiat and crypto, pinpointing common intersections.
Join us to learn:
• Where the intersections between the traditional and crypto economies lie – centralized exchanges like Coinbase, crypto kiosks, P2P exchanges
• Preparing for regulatory examinations
• What role banks and other financial institutions play in the conversion of fiat and cryptocurrencies
• How undetected crypto transactions can implicate institutions in sanctions violations, money laundering and the funding of terrorists
• How to safely provide banking services to lucrative crypto accounts.
Presenters: Pamela Clegg and Diana Leclair
Pamela Clegg is the Vice President of Financial Investigations for CipherTrace.
She works with governments, law enforcement officials, regulators, law firms and financial institutions around the world to conduct cryptocurrency financial investigations and to train and educate officials and employees to understand and investigate financial crimes, money laundering and other criminal activity within the cryptocurrency ecosystem.
Prior to joining CipherTrace, Pamela was the Assistant Vice President – BSA and Information Security for First State Bank. She also has over 10 years of international experience with investigations, due diligence and operations mostly in Latin America with the U.S. Government.
Pamela has her Certified Anti-Money Laundering Specialist (CAMS). She obtained her B.A. from the University of Texas at Austin and her MBA from the Universidad Autónoma de Madrid. She has conducted trainings and workshops, and spoken about cryptocurrency and financial crimes globally, to include speaking engagements at INTERPOL, UN, EUROPOL, Basel Governance, ACAMS, ACFCS and other international and federal agencies and organizations.
Recorded on Tue, Aug 17, 2021 2:00 PM – 3:30 PM EDT