FinCEN issues advisory on virtual currency and sanctions compliance

FinCEN (The US Financial Crimes Enforcement Network) has issued an advisory to assist financial institutions to identify and report suspicious activity relating to the exploitation of convertible virtual currency (CVC) to evade sanctions. The guidance indicates that businesses and entities dealing in digital currency should: ·        Block IP addresses associated with a sanctioned country or region; ·        Disable accounts of...

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About Michael O'Kane

Michael O'Kane

Michael was called to the Bar in 1992 and prior to joining Peters & Peters was a senior specialist prosecutor at the Crown Prosecution Service Headquarters (CPS). He was a key member of a small specialist unit responsible for the prosecution of serious and high-profile fraud, terrorist,...

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