romanian english

Alina V. Popescu: Know Your Customer on the Crypto Assets Market – Between Theory and Practice

DOI: http://doi.org/10.47743/jss-2021-67-4-5

Abstract: Knowing Your Customers is a way to avoid fraud or involvement in criminal activities, such as money laundering or terrorist financing. KYC measures are important for both business and customers, and although the best known to the public KYC measures are those applied by the banking environment, the legislation has extended the obligation to apply these measures to other financial, non-financial institutions and service providers. A novelty regarding KYC is the obligation of exchange service providers between crypto assets and fiat currency to apply measures to know the customers, on the background of the specificity of these assets and taking into account the fact that these providers operate in an unregulated market.

Keywords: money laundering; know your customer; crypto assets; unregulated market

[1]       Pe parcursul studiului vom utiliza prescurtarea KYC de la denumirea în limba engleză „Know Your Customer”.

Europol (2021), European Union serious and organised crime threat assessment, A Corrupting Influence: The Infiltration and Undermining of Europe’s Economy and Society by Organised Crime (t.a.), Publications Office of the European Union, Luxembourg

Europol, Comunicat de presă, Cryptocurrency experts meet at Europol to strengthen ties between law enforcement and private sector

Europol, Comunicat de presă, Illegal network used cryptocurrencies and credit cards to launder more than EUR 8 million from drug trafficking

Europol, Comunicat de presă, Two criminal groups dismantled for laundering EUR 2.5 million through smurfing and cryptocurrencies

Europol, Comunicat de presă, Multi-million euro cryptocurrency laundering service Bestmixer.io taken down

Europol, Comunicat de presă, International drug trafficking network disrupted



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