A&D Forensics Trains Participants On Tracking Dubious Cryptocurrency Transactions, Others

A leading blockchain intelligence service provider, A&D Forensics, trained a new batch of cryptocurrency compliance specialists in Abuja on blockchain technology, cryptocurrency compliance, tools, laws, its application as well as how they can track dubious transactions.

The training concluded on Friday with participants taken through various topics -Introductions to blockchain & cryptocurrency, Wallet and transaction screening, among others.

According to one of the facilitators, Chioma Onyekelu, the knowledge imparted to participants will make them competent to serve in any part of the world.

“We took them through different modules, the introductory aspect, training on how to track dubious cryptocurrency transactions, Cryptocurrency Compliance laws and regulations in various jurisdictions.

“They have now been presented with certificates as Certified Cryptocurrency Compliance Specialists and can work anywhere in the world,” she told newsmen.

A co-founder and major partner of A&D Forensics, Adedeji Owonibi added that the Crypto Compliance Specialist Training was aimed at ensuring that banks comply with adequate laws when dealing with Virtual Asset Service Providers.

He said financial institutions must not be used as a gateway to launder monies and carry out other criminal activities.

“If you operate a cryptocurrency exchange, you want to know if you are a financial institution like the banks recently allowed to interact and open accounts for virtual assets service providers.

“There is a need for Financial Institutions such as banks to make sure that the VAPs they are opening accounts for are compliant exchanges, and not gateways for people trying to launder money, sell drugs, or finance terrorism across the world.

He explained that if a platform allows money to be laundered or crime perpetrated, relevant authorities will see them as accomplices.

Owonibi added that these financial institutions must try to ensure that all monies that pass through their exchange are not funds used for criminal activities and one way to ensure this is to engage the services of a compliance officer who will make use of the requisite tools to flag them immediately.

He continued, “Most countries are now putting in efforts to ensure that they are not a gateway for sanction aviation, hacking, by having adequate compliance practices within their country and Nigeria should intensify her efforts in this regard.

“Nigeria should completely regulate Cryptocurrency activities within the country, set out laws to that effect because if there is no law, there is no offense and more training should be done.

“We have had Law Enforcement agents, participate in our trainings, we have the cryptocurrency investigators course, where we had police officers and officers of the Economic and Financial Crimes Commission (EFCC) come and get trained and we are currently working with Nigerian Financial Intelligence Unit, but we as as a country needs to do more of these trainings to ensure that financial crimes do not continue to thrive in our country,” he said.

A participant, Sussan Omeruo, who works as a data analyst, explained that the training could help her build a career in crypto compliance.