Introduction to blockchain and virtual currency risk management

Tuesday 13th November 2018 09:00 – 12:30

Venue: Offices of Winckworth Sherwood, London

Minerva House, 5 Montague Close, London, SE1 9BB

Cryptocurrency is no longer a subject that can be easily dismissed as being the playground of criminals, and whilst the adoption of cryptocurrencies remains a divisive subject, the adoption of the so-called ‘fifth’ EU money laundering directive means that cryptocurrencies will enter mainstream regulations on 10th January 2020.

Businesses and risk professionals must take steps now to grow their understanding and confidence in how to manage the risks associated with crypto-assets. These risks may arise directly from their customers, or indirectly because of undisclosed exchange activity.

On 13th November 2018 at the London offices of Winckworth Sherwood we will distinguish between higher risk cryptocurrencies and those that can be publicly tracked; investigate how ‘mixing’ and the use of ‘tumblers’ are used to confuse the value trail; and confirm how it is possible to identify suspicious activity and sources of wealth when monitoring virtual transactions.

So, if you want to learn more about the difference between Bitcoin and altcoins such as Monero, and why one is higher risk than the other; why the arrest of BTC-e founder Alexander Vinnik can help to inform a cryptocurrency risk assessment; and how to identify risks of unlicensed activities such as peer-to-peer exchange, then this course is for you!

This course was developed and is run by The Great Chatwell Academy of Learning and brought to you in partnership with


About the Course

The course is designed to support virtual currency (VC) enthusiasts and users, as well as risk professionals, including anti-money laundering professionals, to understand more about the development of VC and how to manage associated financial crime risks.

Delegates will be provided with the opportunity to learn more about the role of the regulated sector in fighting financial crime and preventing the financing of terrorism, and of the international laws and regulations that support these aims. We will look at some of the very latest international regulatory developments and guidance on how to manage financial crime risks relating to VC.

Using case studies, exercises and personal challenges, delegates will be encouraged to develop a practical understanding on how to manage VC risks and how to meet the personal and corporate responsibilities.

The Course will be suitable for:

  • VC enthusiasts, users and professionals from the non-regulated sector
  • All risk professionals including financial crime compliance (FCC) and money laundering practitioners
  • MLRO, Deputy MLRO and nominated officers
  • Professionals from outside the banking profession, including Lawyers, Accountants, Real Estate professionals or other impacted industries
  • Law enforcement officials

Course Overview and Expected Learning Outcomes

The course introduces the history of ‘money’ and the role of the regulated sector, before examining the modern-day sources of criminal revenue, including the very latest updates on emerging transnational organised crime risks.

Delegates will learn more about the very latest crime typologies that can be used to inform firm-specific FCC risk assessments and the very latest international money laundering legal and regulatory developments applicable to VC activity in some key financial markets such as Japan, Australia, USA, China, Russia and Europe.

A key learning outcome will be to review and understand more about how to conduct a financial crime risk assessment, perform customer due diligence and how to monitor relationships to manage and identify criminal activity in VC transactions. This includes reviewing some of the very latest VC due diligence monitoring techniques and software, training techniques and red flags indicators that can be provided to staff as part of the three-line defence model.

Keywords and Topic Areas

  • Virtual currency, blockchain, ICO and cryptocurrency
  • Cross border financial crime risk and money laundering monitoring
  • VC links to money laundering, terrorist financing, corruption, tax and other financial crime typologies
  • International legal and regulatory developments
  • VC technology solutions
  • Systems and controls framework and procedures to manage and mitigate financial VC crime risks

At the end of the course delegates will be provided with a certificate attesting to their attendance and participation. A certified course option is also available.