Training for Banks: Managing Cryptoassets AML Risk with Coinfirm tools

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With the rapid development of cryptoassets market, it comes as no surprise that a number of banking institutions start providing cryptoassets custody services. The business opportunity comes with inherent obligations, one of which is the effective management of AML risk in the new product line. Although the issue of AML compliance is nothing new to the banking sector, effective management of AML risk in cryptoassets requires an understanding of key concepts as well as the relevant use of the technology.

The first part of the course builds a solid foundation to understand cryptoassets AML risks through clarifying key terms, market players and differences among main assets. It also provides an accessible overview of crypto regulatory landscape and highlights differences between fiat and crypto AML risks.

The second part of the course focuses on the practical aspect of cryptoassets AML risks through a number of case studies shown and analyzed with the use of Coinfirm tools.

The course finishes with an exam that comprises of questions checking the basic understanding of cryptoassets followed by practical case study exercise with the usage of Coinfirm tools.


Delivery method: online, pre-recorded

ModuleDurationTraining Objective
DLT and blockchain basics   30m– understand the difference between centralized vs decentralized network

– explore the foundations of Distributed Ledger Technology (DLT)

– identify key benefits of DLT  
Cryptoassets introduction   1h– understand key concepts in cryptoassets (address, key, transaction)

– identify players in cryptoasset markets and their inherent risks

– differentiate between BTC and ETH technology and use cases

– recognize other cryptoassets  
Crypto Regulatory Landscape Overview   1h 30m– identify key components of FATF guidance on cryptoassets

– recognize main established crypto regulations regimes    
Fiat vs crypto AML Risk management   30m– understand similarities and differences in AML risk management for fiat vs cryptoassets  


Delivery method: online, live training 

ModuleDurationTraining Objective
Coinfirm tools overview     30m– identify key Coinfirm tools and their uses cases

– explore Coinfirm tools navigation  
Case studies     2h 30m– understand and analyze AML risks of a given address based on Coinfirm AML report

– investigate source of assets for a given address and evaluate risks

– analyze BTC and ETH transactions including counterparty risk and transaction risk

– set monitoring alerts for given addresses

– use Case Management to record risk analysis and final conclusion    
Exam1h– apply acquired knowledge to explain key terms and work with case studies

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