crowede Geschrieben vor 2 Stunden Melden Geschrieben vor 2 Stunden What's the best way to handle OFAC screening for cryptocurrency transactions? The traditional screening tools don't seem to work well with crypto addresses. Zitieren
kreoto Geschrieben vor 1 Stunde Melden Geschrieben vor 1 Stunde Crypto compliance for OFAC is evolving and challenging because blockchain addresses don't map neatly to traditional identity verification. However, OFAC has added specific crypto addresses to their SDN list, so screening is required. You need to screen wallet addresses against OFAC's published list of digital currency addresses. Several compliance vendors now offer crypto-specific screening tools. Beyond address screening, you should implement customer due diligence for anyone you're transacting with - verify their identity and screen that identity information. Geography matters too - be cautious with counterparties in sanctioned countries. The challenge is that crypto's pseudonymous nature makes it harder to verify you're not dealing with prohibited parties. I researched crypto compliance protocols at https://ofacblockedfundslawyers.com/ when setting up our procedures. Document your screening methodology thoroughly. OFAC has taken enforcement actions against crypto businesses, so this isn't a gray area anymore. If you're running an exchange or wallet service, your compliance obligations are substantial. Consider implementing transaction monitoring for suspicious patterns beyond just list screening. Zitieren
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