Understanding cryptocurrency merchants
This entry-level course is designed to provide a good grounding in cryptocurrencies.
Cryptocurrencies and other types of virtual assets are seldom out of the headlines. But with no consistent global approach on how to regulate, tax and even describe cryptocurrencies, It’s a dynamic, diverse and complex, landscape. This inevitably means two things: great opportunities for merchants and their acquirers to get involved in this nascent space, and great risks.
Unscrupulous merchants exploit loopholes. The anonymity of cryptocurrency transactions increases the risk of money laundering and other financial crime. And the cross-border nature of trades poses risks because transactions must be legal in the country of the buyer and seller to be processed via the card schemes.
This entry-level course is designed to provide a good grounding in cryptocurrencies. It covers some of the most common crypto scams against investors and merchant acquirers, plus how to mitigate the risks. Packed full of real-life case studies and practical advice, this stand-alone course is ideal for those working in risk management or compliance in both financial and non-financial firms.
Learning objectives
- Understand the past, present and possible futures of cryptocurrencies
- Be able to set cryptocurrencies and virtual assets in their regulatory and legislative context
- Be familiar with common cryptocurrency scams and how to mitigate against them
- Know card scheme requirements around cryptocurrencies and virtual assets
- Understand how to manage the risks of cryptocurrency merchants for business success
Chapters
Everything you wanted to know about cryptocurrencies abridged. We cover the historical background to Bitcoin and other cryptocurrencies, how they work in theory and practice, their pros and cons, and how they are being regulated around the world.
Real-life case studies of the most common cryptocurrency scams, including scams against investors and money laundering and terrorist financing schemes. Practical advice for merchant underwriters on how to spot potential rogue operators is also covered.
Everything you need to know about registration on the card schemes’ high brand-risk programmes, plus the lowdown on requirements for acquiring cryptocurrency merchants.
Everything from how to conduct KYC on cryptocurrency merchants to reviewing business operations, legal opinions, marketing materials and web traffic to manage your risk exposure. Monitoring recommendations are also covered.
On-demand training for the whole team
Set an underwriting training program for your team, see their progress, and manage their course load.