seqlense logo

Search Document

Document detail

20240701_webinaire_mica.pdf

Here are the key points summarized in English:

Key Points

  1. The presentation focuses on the strengthened examination framework for LCB-FT (Licensed Crypto-asset Service Providers) and asset freezing.
  2. It highlights the importance of considering the business model, risk exposure, and client characteristics when evaluating a candidate's AML/CTF (Anti-Money Laundering/Criminal Financing) compliance.
  3. The presentation emphasizes the need to consider various risk factors, including:
    • Product or service nature
    • Transaction conditions
    • Distribution channels
    • Client characteristics
    • Geographic origin and destination of funds
  4. It references the ACPR's (Autorité des Marchés Financiers) guidelines for applying AML/CTF regulations in the crypto-asset sector.
  5. The presentation highlights the importance of continuous vigilance, including:
    • Recourse to OAT (Organisme d'Accueil et de Traitement) and expected vigilance when dealing with anonymized assets or ransomware
    • Data that must be included in DS (Decisions Suspectes) sent to Tracfin
  6. It mentions the upcoming MiCA (Markets in Crypto-Assets) regulation, which will:
    • Strengthen KYC (Know Your Customer) obligations
    • Expand data reporting requirements
    • Reinforce organization and compliance requirements
  7. The presentation concludes with a focus on the AMLR (Anti-Money Laundering Regulation) published in June 2024, which includes new rules for:
    • Verifying client identity
    • Prohibiting anonymous wallets
    • Extending FICOBA (Fonds d'Investissement Crypto-Actifs) to crypto wallets

Please note that this summary is based on the provided text and may not fully capture all aspects of the presentation.

Published: 2024-08-02 · Source: AMF

Need more info or need a demo?

Although we are a tech company, we pride ourselves on being traditional and committed to a personal approach. We visit our clients to present our solutions or send brochures directly to you. Please write to us at [email protected] with your availability and contact details.

We're on a mission to unburden compliance teams from the complexities and workload in the domain of bank, insurance, and crypto compliance. This is achieved by helping them navigate through the vast amount of documents issued by regulators.