Identifying Emerging Risks Associated with Bitcoin and Other Virtual Currencies

Duration: 60 Minutes
Once a Miami-Dade judge ruled last year that bitcoin is not actually money or 'tangible wealth' and dismissed related AML charges, experts lauded the ruling and predicted an increase in the use of virtual currencies. The ruling also appears to offer a roadmap to financial institutions and governments across the world that have struggled to understand and regulate bitcoin. As the popularity of bitcoin and virtual currencies continues to expand, join Warren R. Markowitz as he details how to protect your institution from associated emerging risks.
Bitcoin Transactions Flows
Product ID: 503800
Objectives of the Presentation
  • Detailing the latest trends in bitcoin transactions flows, operational and regulatory challenges related to virtual currencies
  • Creating and implementing an effected risk-based oversight of bitcoin and other virtual currencies
  • Reviewing recent cases and real-life activities of virtual currencies to anticipate emerging impacts on transaction monitoring, transparency and other AML issues
Why Should you Attend
The financial services industry/world is a tightly knit and intertwined mess of relationships and trusted partners, so closed to competition that the existence of alternative avenues and methods poses a threat to the very system established by national governments to perpetuate transactional methods that translate to financial control. The Golden Rule states; He who has the gold makes the rules. So what happens when the system changes and not the rules? With technology comes innovation. You need to understand the complex and developing world of virtual currencies to see how things are changing in a dramatic and complex way. The how, what and why early adopters can and do choose to break from the comfort of traditional methods of exchange and step into uncharted territory. This webinar will cover these topics and others as we explore the impact that virtual/crypto currencies are having on the world of finance.

Areas Covered
  • What is a BTC and its various partners
  • How do transactions get verified and identified
  • What is a Virtual Wallet/Account/Bank?
  • How to apply modern changes in the financial world to AML/BSA and other monitoring systems
  • Folding BTC into current banking and business models
  • Payments and exchanges in the developing financial world
  • Breaking into markets using non-traditional/alternative methods
  • Security and access
  • Developing trends
Who will Benefit
  • AML/CTF Officers
  • Banking Technology Specialists
  • On-boarding and Relationship Managers
  • FinTech Representatives
$300
Recorded Session for one participant
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  • Upon purchase of the recorded session a link will be updated on your OCP Account within 24 hours
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  • Presentation handouts in downloadable PDF format will be updated on your OCP Account within 24 hours of the purchase of the product
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  • Please share your valuable Feedback at the end of the session
Instructor Profile:
Warren R. Markowitz is an attorney and veteran compliance officer. He has been an active participant in the world wide financial sector since 1994. Mr. Markowitz has provided hands on, direct advisory services to domestic and international financial providers in their dealings with federal and state oversight authorities and self-regulatory organizations, as both a lawyer and an adviser through consulting and technology advisory firms with whom he maintains relationships. His real world experience with regulatory bodies has enabled him to represent his clients with a perspective on resolving matters or concern and avoiding new ones.
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