OFAC and FinCEN Updates: Trends and Priorities for Virtual Currency

October 12, 2022 2:00pm

Kevin O’Connor
Section Chief, Virtual Assets and Emerging Technology
Department of the Treasury/Financial Crimes Enforcement Network

Eytan Fisch
Skadden, Arps, Slate, Meagher & Flom LLP

Jess Houghton
Sanctions Compliance Officer
Office of Foreign Assets Control

U.S. Department of the Treasury

  • FinCEN 2022 Illicit Finance Strategy
  • New FinCEN alerts and red flags
  • Impact of OFAC Virtual Currency guidance and ransomware advisory
  • Need for risk-based approach based on companies’ exposure
  • Impact of many virtual currency designations