Banks Cryptocurrency Exposure Monitoring

Find out if your bank is unknowingly processing cryptocurrency payments for crypto frauds.

Exposure To Cryptocurrency Transactions

Banks are known to stay clear of cryptocurrency companies  and individuals who carry out their transactions in digital assets. This may come as a surprise to bank owners, heads and managers but many of these institutions unkowningly process millions of dollars worth of digital asset transactions daily. This poses a serious AML/CFT compliance issue.

Explained: How Cryptocurrency Transactions Slip Through Banks Undetected.

The reason for many banks processing millions of dollars worth of cryptocurrency payments and they don’t know is because they are dealing with unregistered cryptocurrency money service businesses (MSBs) in their jurisdiction.

Daily, banks process transactions from OTC operators, p2p traders, exchangers and these classes of transactions have remained undetected.

These slips continue to happen because banks are ill equiped on how to spot these cryptocurrency exchanges transactions and virtual asset service providers within their jurisdiction  and enforce necessary sanctions.

Working with A&D Forensics, we help you set up the structures that make sure these occurrences never happen again and your bank is AML/CFT compliant going forward.

FATF GUIDANCE FOR BANK COMPLIANCE

It is an open secret that banks undergo rigorous AML/CTF regulatons.

The lack of in depth KYC/AML procedures on the part of cryptocurrency exchanges is the major reason why banks have refused to adopt working with them.

At A&D forensics, we diagnose your systems with our leading tools that help to monitor cryptocurrency related transactions and let you know your risk exposure and the funds transferred.

Where slips are spotted, we will support your efforts in investigating crypto related frauds and we would also let you know if you are unknowingly providing banking services to Crypto Merchants, Mining Pools, Cryptocurrency ATM services, Stolen fund from exchange hacks, gambling, OTC Crypto brokers, Sanction evasion and other cryptocurrency related criminal activities.