Founder and President, BitAML, Inc.
Joe is an accomplished AML compliance expert and has spent the last several years building, developing and implementing successful AML compliance programs for both financial and non-financial institutions. Prior to launching BitAML, Joe was a founding member and architect of the BSA/AML program of a top 100 U.S.-based financial institution. He also served as a project manager for a top 20 global bank, where he led several regulatory and audit remediation projects, and consulted on the enhancement of existing documentation and record retention. Before entering the field of BSA/AML, Joe held leadership positions within various risk management disciplines, including vendor due diligence, fraud prevention, and corporate investigations. He is co-founder of Illinois State University’s bitcoin club, provides pro bono financial regulatory advisory services to Rotary International service projects, and is a passionate advocate of digital currency and access to financial services for the unbanked. Joe is a Certified Anti-Money Laundering Specialist (CAMS), Certified Fraud Examiner (CFE), and Anti-Money Laundering Certified Associate (AMLCA). He graduated from Northeastern University, College of Criminal Justice in his hometown of Boston, Massachusetts.
Why banks are high on compliance, and you should be too.
Can’t get banked? Lost your bank account? Yup, it’s AML alright. For legalized marijuana, like bitcoin companies, it’s becoming more and more difficult to find a bank willing to talk, let alone establish a sustainable banking relationship. Government regulators continue to raise the bar on AML and consumer protection, applying pressure on traditional and non-traditional financial institutions. We’ll examine the strategies deployed by banks to “de-risk” cannabis companies, and the compliance counter-measures you can deploy. Our discussion will conclude with a detailed examination of bitcoin as a potential solution.
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