Crypto assets, wallets and exchanges are now considered “obliged entities” under 5AMLD, and face the same CFT/AML regulations applied to financial institutions under 4AMLD. Practically, this involves an obligation to perform customer due diligence (CDD), and submit suspicious activity reports (SAR).
The anonymity and high risks models within this industry has led to enhanced supervision by auditors and banking partners.
Crypto companies are now held accountable to have robust AML processes in place and to verify the identity of any sender and beneficiary, to ensure no illegal activity, such as money laundering and terrorist financing, slips through the net.
Our solutions ensure that crypto companies comply with regulatory expectations across various jurisdictions, safeguard their reputation with the public and banking partners, and quickly identify risks before they become threats.
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