Episode Details

This podcast episode examines the UK Financial Conduct Authority's (FCA) feedback on cryptocurrency firm applications for anti-money laundering (AML) and counter-terrorist financing (CTF) regimes. The episode highlights successful application characteristics, including robust AML/CTF frameworks, thorough risk assessments, and effective transaction monitoring. Conversely, it details common application flaws, such as inadequate policies and insufficient evidentiary support. Practical advice is offered to improve future applications, emphasising a risk-based approach and early collaboration with experts. The podcast concludes by stressing the importance of compliance for maintaining a positive firm reputation.