AML/KYC – June 2021 – pymnts.com

AML/KYC

How Crypto Exchanges Can Balance User Privacy With AML And KYC Compliance

Cryptocurrencies’ anonymous nature makes them popular, but crypto exchange platforms are still required to collect buyers’ personal data for AML and KYC compliance. In the AML/KYC Tracker, Elena Hughes, chief compliance officer at Gemini, explains how platforms can selectively collect data to ensure user privacy and adhere to regulations.

Inside the June Tracker

  • An interview with Elena Hughes, chief compliance officer at cryptocurrency exchange Gemini, about why customer privacy is often at odds with AML and KYC compliance and what exchanges can do to satisfy both sides of the equation
  • The latest AML and KYC developments, including why 79 percent of U.K. banks said that working from home reduced the effectiveness of their compliance efforts and why many online shoppers check out as guests rather than make purchases with their accounts
  • A Deep Dive analyzing how companies can use innovative data encryption solutions to balance the competing needs of AML and KYC requirements with consumer privacy

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