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If you know someone over the age of 60, then they are unfortunately at risk for something called elder financial exploitation (EFE). EFE is a major societal problem, and unfortunately, a growing trend in the crypto space that has implications for AML compliance and reporting...

Let’s start with the basics. “Cryptocurrency” refers to digital currencies that are completely decentralized, meaning they operate independently of a central bank. Instead, these “coins” or “tokens” and their trade are regulated by an enthusiast community that records transactions transparently in a public digital ledger...

Almost since its inception, opponents of cryptocurrency have made various attempts to undermine its potential and legitimacy. Top commodities gurus have written cryptocurrency off as a market for criminals and millennials. Leading news outlets almost exclusively focus on cryptocurrency-related cybercrime and fraud, with headlines mostly...

In 2014, JPMorgan Chase Bank, N.A. admitted to violating the Bank Secrecy Act. The bank had failed to report dubious transactions which were connected to fraudster Bernard Madoff's Ponzi scheme. The Financial Crimes Enforcement Network (FinCEN) fined JPMorgan $461 million. Then, in 2016, FinCEN went after Gibraltar Private...

The cryptocurrency industry has a difficult challenge ahead of it in the coming years: demonstrate legitimacy both to potential investors and regulators who are increasingly skeptical of the nascent technology. It's a tremendous burden of proof to bear, but one that those in the industry have...

BitAML Founder, Joe Ciccolo, recently sat down with Coinfirm CEO, Pawel Kuskowski, and Bitcoin Magazine to discuss regulatory activities across five U.S. states — Washington, Illinois, Hawaii, California and Florida — and what the regulatory landscape may look like in the days ahead. The following are...

The Blockchain Users Group (BUG) named BitAML Founder & President, Joe Ciccolo, as its Regulatory Compliance Advisor. The BUG is a 501(c)(3) organization that provides a hub for users, practitioners, and developers to exchange knowledge on how to maximize blockchain technology to achieve business success....

On March 9, 2017, BitAML Founder, Joe Ciccolo, lead a double-session workshop on bitcoin and blockchain technology for nearly 300 Chicago-area bank compliance officers, regulators, and members of law enforcement. The workshop, hosted by ACAMS Chicago, consisted of several lively and interactive panel discussions featuring...

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