How the big banks look at stablecoin, digital assets and modernization, with Ned Conway

In this episode of "Financial Crime Matters," Kieran Beer talks live from "The ACAMS Assembly Las Vegas" with Ned Conway, executive secretary at the Wolfsberg Group, an association of 12 of the world's largest banks that focuses on managing financial crime and money laundering risks.

Conway discusses Wolfsberg's recommendations for banking stablecoin producers, pointing to the group's recent guidance "Provision of Banking Services to Fiat-backed Stablecoin Issuers." The guidance adapts some of Wolfberg's seminal recommendations for correspondent banking relationships and can be "flipped" to serve banks considering dealing in stablecoin in various capacities.

Commenting on remarks earlier in the day by undersecretary of the Treasury for Terrorism and Financial Intelligence John Hurley, Conway welcomes promises of simplified suspicious activity reporting, greater information sharing by the public and private sectors and regulatory oversight primarily focused on getting law enforcement what it needs to effectively fight crime.

Click here to listen to the podcast.