Virtual Currencies Update: What Bankers Need to Know
Learn the latest about Bitcoin and other virtual currencies, including merchant handling, current risks, how to protect your customers and regulatory, legal and compliance requirements.
Recently, the Conference of State Bank Supervisors (CSBS) drafted the Framework for Virtual Currency.
This webinar will get you up to speed on what you need to know about virtual currencies including: how to handle merchants who want to exchange or convert virtual currencies, current risk areas and how to protect your customers. This webinar will also provide methods to handle your virtual currency regulatory, legal and compliance requirements.
- Overview of highlights from the CSBS Virtual Currency Framework
- Analysis of the United States Commodities Futures Trading Commission (CFTC) ruling positioning Bitcoin as a commodity
- Popular types of digital currency and their common uses
- Compare and contrast virtual and digital currency protocols and uses
- Discuss/define virtual/digital currency terms such as blockchain, digital wallets, mining, peer-to-peer systems, fiat currency, non-convertible/convertible currency, Tor and many more
- Virtual currency fraud risks such as ransomware (hijack computers in exchange for virtual currency ransom), attacks on virtual currency storage systems and many others
- Outline needed discussions with your customers to help protect them from virtual currency risks
- Information and discussion for bank compliance and BSA concerns for virtual currency exchanges, transmitters and users
- Discussion of what’s next for virtual currency: Use of computer ledger systems to augment movement of funds? Instantaneous transactions 24/7?
Senior management, IT officers, security officers, operations officers, risk managers, auditors and compliance officers.
Bruce Upton, CISA, CISM, CISSP, CEH, CRISC, Certified Forensics Investigator, served for over 20 years in the United States Air Force, including 10 years as a Communications Security Officer. He is an EVP at Secure Banking Solutions (SBS) and has experience in project management, information security, data networking, IT audits, data encryption and banking operations. Mr. Upton has worked with the Texas Bankers Association and the Conference of State Bank Supervisors to create the Corporate Account Takeover Guidance used in many states today.
Institute of Certified Bankers: Visit http://www.icbmembers.org/login.aspx for instructions regarding self-reporting. Estimated credits: 2 hours/session
Member price: $275.00 | Non member price $550.00
Member price: $295.00 | Non member price $560.00
Online: Visit the CBA Webinar Catalog
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1516 Xavier St., Ste 500, Denver, CO 80204
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