Page 13 - ACAMS-Today-V20N3

is also a likelihood that some kind of illicit privacy coins would thrive to serve criminals.
This great change ahead requires more education, public awareness and debate. As this column goes to press, ACAMS will have concluded its second annual fintech summit. This edition of ACAMS Today also carries a few cryptocurrency-related articles, by no means the first since we started writing about cryptocurrencies in this magazine and on ACAMS moneylaun- dering.com over the past decade.
It will be important for the anti-financial crime community to have a leadership role in the ongoing debate. Write, speak up at conferences and, as they say, discuss among yourselves. It is a brave new world and hopefully not in the
dark ironic sense the phrase from Shakespeare’s The Tempest was used by Aldous Huxley for the title of his dystopian book.
Kieran Beer, CAMS
chief analyst, director of editorial content Follow me on Twitter: @KieranBeer “Financial Crime Matters with Kieran Beer”
1 “The 2021 Crypto Crime Report,” Chainalysis, February 16, 2021, https://go.chainalysis.com/ rs/503-FAP-074/images/Chainalysis-Crypto- Crime-2021.pdf
2 Helen Partz, “Bitcoin part of highest risk category in Basel’s new bank capital plan,” Cointelegraph, June 10, 2021, https:// cointelegraph.com/news/bitcoin-part- of-highest-risk-category-in-basel-s-new- bank-capital-plan
3 “Will central-bank digital currencies break the banking system?” The Economist, December 5, 2020, https://www.economist.com/ finance-and-economics/2020/12/05/ will-central-bank-digital-currencies-break- the-banking-system?gclid=Cj0KCQjw8IaGBh CHARIsAGIRRYqTbte7hQoKocDrAsGnjnqWr u4ZercrQdc0cVGUQSVyckFDqfPLEvYaAj54 EALw_wcB&gclsrc=aw.ds
CALLING ALL
ACAMS TODAY READERS!
Have you read the latest issue of ACAMS Today? Assess your knowledge by taking the following quiz question:
Which previously unregulated industries were brought under the purview of BSA regulations by the AMLA ?
a. Dealers in antiquities b. Virtual currencies
c. Attorneys
d. Only a. and b.
DID YOU ANSWER CORRECTLY?
Visit the quiz index on ACAMSToday.org for more anti-financial crime quizzes!
(See bottom right of page for answer.)
Correct answer is d.