A&D Forensics, a blockchain and digital forensic firm, has trained a new batch of cryptocurrency compliance specialists to track dubious financial transactions, notably money laundering and terrorism financing.
Adedeji Owonibi, co-founder and senior partner at A&D Forensics, speaking after the training session on Certified Cryptocurrency Compliance, Specialist(3CS) in Abuja, highlighted that effective compliance is crucial to prevent illicit activities, ensuring that cryptocurrency platforms are not used for unlawful activities.
He highlighted the need for increased compliance officers and comprehensive training for stakeholders on cryptocurrency compliance in Nigeria stating that “Financial Crimes grow faster in an environment that is not regulated, so Nigeria needs to completely regulate cryptocurrency activities within the country. Set the rules and punish those who violate.”
“Secondly, training is key because there are now tools to make sure that when those bad actors come to your platform, your platform flags it to determine if it is coming from hacks, or from scam, darknet market, or proceeds from ransomware that has been paid, or for terrorism financing.
“A compliant officer needs the right tools to flag potential risks immediately, ensuring that transactions are scrutinized before approval,” Owonibi explained, underscoring the significance of ongoing training initiatives by A and D Forensics”, he added.
Chioma Onyekelu, Certified Cryptocurrency Investigator at R&D forensics informed that Certified Cryptocurrency Compliance Specialist(3CS) training was designed to equip participants to adopt effective policies and prevent financial crimes using cryptocurrencies by leveraging on cryptocurrency compliance tools.
She explained that at the end of the training, participants will become thoroughly trained and Certified Compliance Officers able to bring transparency to platforms, advise their organisations or cryptocurrency exchanges on the right compliance issues around Anti Money Laundering, Terror Financing, Sanction Compliance and the right policies that have to be in place including the right tools in the market.
