Strengthening Crypto Compliance
The CryptoUK Financial Crime Working Group is dedicated to addressing key financial crime challenges and opportunities within the crypto industry. Through regular discussions, the group explores best practices, regulatory compliance, and risk mitigation strategies, potentially forming sub-groups to tackle specific issues. Key focus areas include sanctions compliance, KYC processes, blockchain investigations, governance, transaction monitoring, and data quality. By fostering collaboration and industry alignment, the group aims to enhance financial crime prevention and build trust in the evolving digital asset ecosystem.
Working Group Lead
Sarah Tomalewicz
UK Head of Compliance and MLRO
Bullish
Primary Objectives
Enhance Sanctions Compliance & Screening
Develop and share best practices for effective sanctions monitoring and risk mitigation.
Optimise Customer Onboarding & KYC Processes
Identify common challenges and standardise industry solutions for robust KYC and due diligence.
Improve Blockchain Alert Investigations
Establish clear frameworks for investigating blockchain-based financial crime alerts.
Strengthen Financial Crime Governance
Promote governance best practices to ensure compliance and risk oversight within firms.
Refine Transaction Monitoring Frameworks
Advance monitoring methodologies to detect suspicious activities effectively.
Enhance Data Quality & Integrity
Develop standards for data accuracy and completeness to support financial crime prevention.
Encourage Industry Collaboration
Facilitate knowledge-sharing and coordinated responses to emerging financial crime threats.
Support Regulatory Alignment
Engage with policymakers to help shape effective, balanced regulations for crypto-related financial crime compliance.
Drive Innovation in Risk Mitigation
Explore new technologies and methodologies to enhance financial crime detection and prevention.
Recent publications from our working groups
Ready to participate?
CryptoUK’s Financial Crime Working Group brings together industry leaders to collaborate with regulators, law enforcement, and policymakers on developing robust compliance standards and best practices. As a member, you’ll contribute to shaping policies that enhance security, transparency, and trust in the UK’s crypto and digital asset sector. Enquire about joining the working group and help drive responsible innovation in financial crime prevention.