Virtual Asset Service Providers (VASPs) play a crucial role in the crypto and digital asset ecosystem, but they are also prime targets for financial crime. Criminals leverage decentralised finance (DeFi), privacy coins, cross-chain transactions, and weak AML controls to move illicit funds undetected.
This white paper examines real-world case studies of financial crime in the VASP sector and outlines best practices to strengthen compliance and mitigate risk.
What’s Inside?
- How criminals exploit VASPs – From crypto mixing services and unregulated OTC brokers to NFT laundering and P2P transactions.
- Case studies of major financial crime events – Including the Bitfinex hack, Hydra darknet market, Lazarus Group’s crypto heists, and the PlusToken Ponzi scheme.
- Key risk indicators – Red flags in crypto-to-fiat transactions, DeFi platforms, and peer-to-peer trading.
- AML compliance strategies for VASPs – Strengthening KYC, blockchain analytics, suspicious transaction monitoring, and risk assessments.
- How to safeguard your business – Enhancing governance, regulatory engagement, and fraud prevention measures.
Why This Matters
With global regulators tightening AML/CTF requirements for virtual assets, failure to implement robust compliance controls can lead to heavy fines, reputational damage, and operational shutdowns. This white paper provides a clear compliance roadmap to help VASPs detect financial crime and maintain regulatory compliance.
Download the White Paper
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