- Coinbase has partnered with ACAMS to provide anti-financial crime training to professionals
- Exchange employees will learn about risk management policies and AML controls
Coinbase and ACAMS have teamed up to train anti-financial crime (AFC) professionals in an effort to protect the crypto space from criminal abuse, Bankless Times learned from a press release.
The exchange and the leading international anti-crime organization will educate professionals about the risks of illicit finance and best practices in crypto-related compliance.
Coinbase to enroll employees in specialized program
Dozens of Coinbase employees will participate in the Certified Crypto Asset Anti-Financial Crime Specialist (CCAS) program, which will educate them on risk management policies, AML controls, and procedures applied throughout crypto organizations.
The program was launched by ACAMS in October 2022. Participants will master Know-Your-Customer standards and best practices, the most common illegal finance typologies in the crypto space, strategies to track and monitor blockchain payments, and relevant applications of AI and ML tools.
At the end of the program, Coinbase employees have to pass a three-hour exam containing 100 multiple-choice questions based on the syllabus.
Melissa Strait, Coinbase Chief Compliance Officer, said:
By providing specialist-level ACAMS training to our compliance staff, we are continuing to ensure that Coinbase is an industry leader in efforts to implement strong and effective AML controls throughout the crypto asset sector. CCAS will not only strengthen the skillset of our compliance staff, but it will also enhance how we deploy our proprietary blockchain analytics software, Coinbase Tracer, to identify and trace suspicious crypto payments.
Scott Liles, CEO of ACAMS, added:
This partnership proves that, even amid an economic downturn in the crypto space, cryptocurrency exchanges are taking the business of anti-financial crime compliance seriously. Coinbase recognizes that the best path to success for the crypto asset sector is through the implementation of AFC controls that protect its customers and mitigate its regulatory risks.
About ACAMS
ACAMS is a leading organization for AFC professionals, which offers collaboration platforms and training opportunities to more than 100,000 members in over 180 jurisdictions.
About Coinbase
Coinbase is one of the biggest and best-recognized cryptocurrency exchanges in the world. It offers digital asset trading platforms, including for NFTs, merchant payment services, and other products and services involved in the trade, custody, and use of crypto assets.
