AMLTHINK Academy

Crypto Exchange and Adapting to Regulatory Changes

How quickly are crypto exchanges adapting to changing AML regulations, what should be done to fully comply with KYC, CDD, and EDD processes? Are virtual currencies and crypto companies risky?

Live sessions
Virtual class

Intermediate

Live: 1 day
Virtual:2x3 hrs

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Who Should Attend?

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Instructor

Inonu Akgun ALP

Inonu Akgun ALP

Founder, CEO, AMLTHINK

Having started his professional life at MASAK (FIU of Turkey) in 1999, ALP has held various positions at the FIU for 20 years. 

He prepared the AML compliance report given to financial institutions annually and reported the deficiencies to the financial institutions by performing the quantitative and qualitative measurement of the financial institutions' suspicious transaction reports with the scoring system.

He played a role as AML team leader in an EU project. During his professional career, he participated in numerous international conferences and meetings.

During his Department Head position at MASAK in 2014 and 2015, he managed and mentored the establishment of MASAK information security infrastructure and obtaining ISO 27001 certification, the establishment of the e-notification system, development of Integrated Financial Intelligence System (EMIS) providing electronic communication and e- SAR system with obligated parties, issuance of AML Compliance Scorecards for financial institutions on annual basis.

Between 2015-2020, he served as Vice President of the FIU and managed the Analysis, Sanctions, and IT departments. During this period, he carried out automation of analytical processes related to money laundering and terrorist financing, harmonization of AML scenarios of financial institutions, the establishment of the infrastructure of standard information flow from financial institutions, and the preparation of sectoral SAR guidelines. He left the public service in 2021 at his own request.

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Course Content

1

INTRODUCTION and KEY CONCEPTS

- Crypto exchange and cryptocurrency
- Virtual assets
- Service providers
- Risk based approach
- Digital KYC
- Beneficial owner

2

AML/CFT OBLIGATIONS

- Identification and know your customer principles
- Simplified measures
- High-risk businesses
- Transaction monitoring
- Transactions requiring special attention
- Technological risks and counter-measures
- Reliance on third parties
- High-risk countries and linked transactions
- Refusal of the transaction
- Termination of the business relationship

3

AML, CRYPTO EXCHANGE and RISKS

- AML risk for cryptocurrency exchanges
- Cryptocurrency exchanges risk for AML

4

WHAT SHOULD CRYPTO MONEY EXCHANGES EXPECT?

- Definition and scope uncertainties
- Uncertainties arising from regulatory differences between countries
- Uncertainties regarding how to design risk-based CDD procedures

5

WHAT DOES THE 5. EU DIRECTIVE BRING?

- Scope
- Beneficial owners
- Enhanced due diligence
- Compliance with eIDAS
- Monitoring obligations
- National lists
- Payment limits
- Anonymity

6

LEGAL STATUS of CRYPTO EXCHANGE and VIRTUAL MONEY IN TURKEY

- Official statements
- What's on the agenda?

7

CDD and SAR OBLIGATIONS for CRYPTO EXCHANGES

- Local regulations
- International regulations

8

RISKS FOR CRYPTO EXCHANGES

- AML risks
- CFT risks
- Sanctions and Embargoes

9

EFFECTIVE AML POLICY and PROCEDURE TIPS for CRYPTO EXCHANGES

- Identification of risks
- Digital onboarding and e-KYC
- Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD)
- Risk appetite
- Risk management and control
- Monitoring and development
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Frequently Asked Questions

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AMLTHINK ACADEMY Training Package includes presentations, videos, exams, training materials, and your certificate.
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If you would like to enroll or register for this course individually, you can contact us.
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