Money laundering, terrorist financing and the role of blockchain and cryptocurrencies

Cryptocurrencies and crypto-projects give rise to illegal activities, which raises serious money laundering and criminal activities concerns. This has led to an increase in interest in regulating the industry and implementing new rules with the goal of preventing money laundering and monitoring the cryptocurrency-based blockchain transactions.

This course examines the relationship between money laundering and terrorist financing regime with blockchain and cryptocurrencies. Participants will discuss the current AML regulatory framework and explore in more detail the 5th Anti-Money Laundering Directive (AMLD5) which regulates, supervises, and brings crypto asset related activities under the regulatory ambit. Among other, participants will have the opportunity to explore the upcoming Markets in Crypto Assets Regulation (MICAR) and the Anti-money laundering and countering the financing of terrorism legislative package (EU AML Package).

Once they will have a basic understanding of blockchain technology, participants will explore the way criminals exploit cryptocurrencies for illegal activities on the one hand and the way blockchain improves the KYC/AML processes on the other.At the end of the course, participants will be encouraged to consider how blockchain might affect KYC/AML compliance standards and money laundering prevention in the future.

Aim

Since cryptocurrencies and crypto-projects give rise to illegal activities, policymakers and regulators around the world face increasing pressure to support innovation while maintaining the required regulations and policies to prevent money laundering, monitor blockchain transactions conducted via cryptocurrencies and hold all stakeholders accountable for the communities they intend to serve.

On the one hand, cryptocurrencies’ anonymity motivates criminals to make illegal activities such as money laundering, terrorist financing and tax evasion and on the other hand blockchain technology – the technology behind Bitcoin and other cryptocurrencies, attempts to enhance the AML compliance procedures. As a result, there is an increase in interest in regulating the field and implement new laws with the intention of preventing money laundering and keeping an eye on blockchain transactions powered by cryptocurrencies.

This training programme is designed to examine the AML regulatory framework and provides a thorough understanding of blockchain technology, including how it functions. With a basic understanding of the AML & TF regime and blockchain technology, the course motivates participants to consider blockchain’s potential impact on KYC/AML compliance and money laundering prevention.

Objectives:

  • Understand money laundering and terrorist financing
  • Define the fundamental elements of the AML & TF framework
  • Understand what is blockchain and how does it works
  • Understand how cryptocurrencies can be used for illegal activities
  • Comprehend how blockchain technology can enhance the KYC/AML processes
  • Suggest blockchain-based against anti-money laundering activities
  • Justify the use of blockchain technology in KYC procedures, taking into account the requirements for identification and verification
  • Utilize blockchain to improve business security and efficiency
  • Promote the use of blockchain technology in their company's AML/KYC procedures
  • Encourage companies to explore the integration of blockchain into their AML departments
  • Fight against money laundering and terrorist financing
  • Understanding Blockchain Technology
  • The basics about Cryptocurrencies
  • The growing use of cryptocurrency in criminal activity

Target audience:

  • Compliance Managers/officers
  • Lawyers
  • Internal and external legal advisors,
  • Attorneys of the Republic
  • Blockchain technologists and developers
  • Law Students, Researchers, Drafters
  • Government Agencies
  • Managers of all Functions (HR, Projects, Strategy, Technology, Innovation)
  • Corporate Administrators
  • Legal Advisors, Legal Projects Managers and Legal Analyst
  • Legal Service Professionals
  • Graduate/Junior Lawyers
  • Financial advisors
  • Professionals in the banking sector
  • Executives and senior managers
  • Digital Transformation Heads, Officers and Team Members

Training Fee

Price*
€72.00 - €228.48

Participation Contribution € 192.00 | Employees HRDA Eligible: € 72.00 

Participation Contribution|No HRDA Eligible*: €115.20 + VAT** 

*Participation Contribution Discount for individuals who are not HRDA Subsidy eligible. **HRDA-approved seminars are exempt from VAT for eligible organizations applying for the HRDA subsidy. For seminars and participants who do not qualify for the HRDA subsidy, a 19% VAT will apply. 

Participation Contribution| Unemployed 

Persons who are registered as unemployed are allowed two free seminars every year if they bring the relevant permit from the Public Employment Service office.

Subsidy eligibility conditions HRDA

Course Dates

Date
Time
04/03/2024
10:00 - 13:15
05/03/2024
10:00 - 13:15

*CPD Recognition

This programme may be approved for up to 6 CPD units in Financial Regulation. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.