Erlös aus Kryptowährungen

From a money laundering perspective, cryptocurrencies pose an increased risk for banks in several respects. Against this background, many Swiss banks have so far decided not to become active in crypto ecosystems themselves, and in some cases actual crypto moratoriums have even been introduced.

However, this does not prevent such banks from being indirectly affected by risks from the crypto ecosystem, explicitly in the proceeds of cryptocurrencies transferred to a bank's customer account. This paper shows where "conventional" processes and systems have weaknesses, particularly in identifying transactions from the crypto ecosystem, and provides suggestions on how to improve the money laundering regime when dealing with cryptocurrencies.

Author:
Dominik Oswald, MLaw, LL.M.