Money Laundering, Virtual Currencies and Underground Bazaars

  • When: July 19, 2019
  • Time: 1PM – 2PM BST
  • Level: All

Rapidly evolving technology such as cryptocurrencies require compliance professionals to stay abreast of new criminal uses in order to guide their institutions as they navigate these disruptive technologies. Although virtual currencies may facilitate access to financial products, aid financial empowerment and contribute to reducing the risks of corruption and fraud, these new and transformative financial products may allow criminals to set up new business models and create online underground bazaars. Our panel of experts will address the unique risks posed by virtual currencies, along with practical guidance on how to manage them.

Learning Objectives

  • Understanding the unique compliance challenges and risks of virtual currencies to mitigate potential AML and financial crime issues
  • Retooling traditional risk-based analysis and adjusting legacy systems to ensure safe and effective oversight of virtual currencies
  • Reviewing current regulatory oversight regimes to mitigate compliance risks for virtual currencies

Who Should Attend

  • Compliance Personnel
  • Technology Officers
  • Industry Consultants
  • Onboarding and Relationship Managers
  • Fintech Representatives

Region/Industry

  • Europe
  • Global
  • Bank
  • Fintech
  • MSB

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Moderator

Peter Oakes

Peter Oakes is a financial services expert in banking, payments, funds, MiFID, FinTech, RegTech, cryptocurrencies and distributed ledger technology industries. His subject matter expertise includes anti-financial crime, corporate governance, directors’ duties, data protection and financial services regulations. Peter is the founder of FinTech Ireland and FinTech UK and is involved with the new FinTech Cyprus initiative. He was appointed as the first Director of Enforcement and Financial Crime at the Irish Central Bank (2010-2013) and has worked as a senior regulator in the UK (FSA), Australia (ASIC) and Saudi Arabia (SAMA) and continues to work with regulators on their supervisory and enforcement strategies.

Peter is a non-executive director of leading regulated FinTech firms Susquehanna (MiFID), Optal Financial Europe (Emoney) and TransferMate (PSD). He is retained as board advisor to a number of FinTech and RegTech, including Corlytics (regulatory intelligence), Ignition Wealth (robo-advisor) and KYCKR (AML / CDD). Peter works with FinTech and RegTech firms seeking licences in Europe and mentors start-ups. He is a solicitor admitted in the UK, Ireland and Australia.

Speakers

Liya Belenska
  • Liya Belenska, CAMS

  • AML and CDD Associate
  • BitPay

Bio

Liya has been part of BitPay’s compliance team since 2015, when she first started as a Compliance Intern and quickly became a permanent member of the team. BitPay is the world’s leading provider of cryptocurrency payment technology, headquartered in Atlanta, Georgia and with offices in Europe and Argentina. Liya’s current role as an AML & CDD Associate at BitPay entails full ownership of the company’s transaction monitoring program, acting as a subject matter expert in handling enhanced due diligence processes and investigations, next to dealing with ad-hoc business support issues


Tarik Eker

Bio

Tarik Eker is the Regional AML Director (DACH region, Central and Eastern Europe) for ACAMS and is a board and founding member of the ACAMS Germany Chapter. He is also a Senior Lecturer at the International School of Management, Germany and is active in the fields of big data analytics, risk management, mathematics and rating.

Prior to this, he was appointed as Senior Compliance Officer, Director for Dagong Europe Credit Rating srl. He oversaw and managed the compliance and ethics activities of Dagong Europe. Furthermore, he was responsible for developing, implementing and maintaining policies and procedures across the departments and branches of Dagong Europe, ensured full ongoing compliance to the European regulatory requirements, and staff members’ adherence to the internal policies and procedures.

Mr Eker is a veteran in compliance advisory, anti-money laundering, terrorist financing monitoring and fraud prevention, and has worked for several high-profile institutions in Europe, including holding the positions of Head of AML Monitoring at Commerzbank AG (Non-FI) and Head of Compliance in BBVA Corporates & Investment Banking in Frankfurt. He has also held several senior compliance related positions with MoneyGram International Limited and KPMG AG in Frankfurt, Germany.


Stephen Brent Sargeant
  • Stephen Brent Sargeant, CAMS, CBP

  • Law Enforcement & Anti- Money Laundering Investigations
  • BITFINEX

Bio

Stephen Brent Sargeant, CAMS, CBP works in an Anti-Money Laundering Investigations capacity at cryptocurrency exchange, Bitfinex. He has previous AML experience working for international Bank, HSBC and is a FINTECH enthusiast that enjoys learning about Bitcoin and the Blockchain. Passionate about helping others, he has written articles and produced podcasts in order to help others in the Financial Crime Compliance field. He has collaborated with many groups promoting goodwill and positive initiatives in the Compliance and FINTECH communities