The initiative will present cutting-edge compliance coaching to Coinbase workers on anti-money laundering (AML) finest practices and rising dangers for monetary establishments within the cryptoasset sector
WASHINGTON, DC, March 06, 2023 (GLOBE NEWSWIRE) — As a part of their efforts to safeguard the virtual-asset sector from legal abuse, Coinbase World, Inc. and ACAMS are teaming as much as educate anti-financial crime (AFC) professionals on the illicit-finance dangers and compliance methods related to cryptocurrencies. Beneath the initiative, greater than 60 Coinbase staff will participate within the new Licensed Cryptoasset Anti-Monetary Crime Specialist (CCAS) certification program, which trains contributors on the AML controls and risk-management insurance policies and procedures used throughout an array of stakeholder organizations within the crypto house.
Launched by ACAMS in October 2022, the CCAS program requires profitable candidates to grasp such subjects as frequent illicit-finance typologies within the crypto sector, Know-Your-Buyer requirements and finest practices, methods to watch and observe associated blockchain funds, and related purposes of machine-learning and artificial-intelligence instruments. To acquire their CCAS credential, Coinbase compliance workers should move a 175-minute examination of 100 multiple-choice and multiple-select questions drawn from the course’s research information.
Along with working one of many largest and most globally acknowledged cryptocurrency exchanges on this planet, Coinbase presents service provider cost companies, buying and selling platforms for digital belongings, together with Non-Fungible Tokens (NFTs), and different merchandise concerned within the commerce, custody, and use of cryptoassets. ACAMS, a number one membership group for AFC professionals around the globe, presents coaching alternatives and platforms for collaboration to greater than 100,000 members in over 180 jurisdictions.
“By offering specialist-level ACAMS coaching to our compliance workers, we’re persevering with to make sure that Coinbase is an trade chief in efforts to implement robust and efficient AML controls all through the cryptoasset sector,” mentioned Coinbase Chief Compliance Officer Melissa Strait. “CCAS is not going to solely strengthen the skillset of our compliance workers, however it would additionally improve how we deploy our proprietary blockchain analytics software program, Coinbase Tracer, to establish and hint suspicious crypto funds.”
“This partnership proves that, even amid an financial downturn within the crypto house, cryptocurrency exchanges are taking the enterprise of anti-financial crime compliance severely,” mentioned ACAMS CEO Scott Liles. “Coinbase acknowledges that one of the best path to success for the cryptoasset sector is thru the implementation of AFC controls that shield its clients and mitigate its regulatory dangers.”
“We’re proud to associate with Coinbase on an initiative that may assist safeguard the worldwide monetary sector,” he mentioned.
Coinbase is constructing the cryptoeconomy – a extra truthful, accessible, environment friendly, and clear monetary system enabled by crypto. The corporate began in 2012 with the unconventional concept that anybody, anyplace, ought to be capable of simply and securely ship and obtain Bitcoin. At present, Coinbase presents a trusted and easy-to-use platform for accessing the broader cryptoeconomy.
ACAMS is a number one worldwide membership group devoted to offering alternatives for anti-financial crime (AFC) schooling, finest practices, and peer-to-peer networking to AFC professionals globally. With over 100,000 members throughout 180 jurisdictions, ACAMS is dedicated to the mission of ending monetary crime by means of the supply of anti-money laundering/counterterrorism-financing and sanctions knowledge-sharing, thought management, risk-mitigation companies, ESG initiatives, and platforms for public-private dialogue. The affiliation’s CAMS certification is the gold- normal qualification for AFC professionals, whereas the CGSS certification is its premier specialist qualification for sanctions professionals. ACAMS’ 60+ Chapters globally additional amplify the affiliation’s mission by means of coaching and networking initiatives. Go to acams.org for extra data.
CONTACT: Lashvinder Kaur ACAMS +44 7388 264478 [email protected]