Moody’s Talks: KYC Decoded

VASP vigilance: Leading the charge in crypto compliance

Episode Summary

As digital assets continue to evolve and enrich investment portfolios, they simultaneously demand innovative anti-money laundering (AML) and compliance strategies to counteract potential exploitation by bad actors. There is a critical need for financial service firms to adapt to these changes, understanding the money laundering risks tied to crypto. In this episode of KYC Decoded, we are joined by Liat Shetret, Director of Global Policy and Regulation at Elliptic, and Karmjeet Singh, Product Strategist at Moody’s, who together unravel the pivotal role of Virtual Asset Service Providers (VASP) in navigating and addressing these emerging challenges in the digital economy. Key topics of their conversation include: the rapid evolution and developments of the VASP and cryptocurrency ecosystem in recent years; the sophistication and complexities of criminal activity in the digital world; strategies to effectively manage the challenges posed by VASP; how compliance officers balance dual roles of safeguarding against risk while facilitating organizational growth; and predictions on future crypto market trends and their implications for risk and compliance professionals.

Episode Notes

As digital assets continue to evolve and enrich investment portfolios, they simultaneously demand innovative anti-money laundering (AML) and compliance strategies to counteract potential exploitation by bad actors. There is a critical need for financial service firms to adapt to these changes, understanding the money laundering risks tied to crypto.  

In this episode of KYC Decoded, we are joined by Liat Shetret, Director of Global Policy and Regulation at Elliptic, and Karmjeet Singh, Product Strategist at Moody’s, who together unravel the pivotal role of Virtual Asset Service Providers (VASP) in navigating and addressing these emerging challenges in the digital economy. Key topics of their conversation include: 

• The rapid evolution and developments of the VASP and cryptocurrency ecosystem in recent years 
• The sophistication and complexities of criminal activity in the digital world 
• Strategies to effectively manage the challenges posed by VASP 
• How compliance officers balance dual roles of safeguarding against risk while facilitating organizational growth 
• Predictions on future crypto market trends and their implications for risk and compliance professionals 

For additional resources: 

• Read Elliptic’s blog
• Sign up for Elliptic’s newsletter
• Listen to KYC Decoded’s Crypto Miniseries: Part 1, Part 2, Part 3

To learn more about our VASP screening for your organization, please feel free to reach out – we would love to hear from you!