Financial Crime World

Tuvalu Takes Aim at Cryptocurrency-Linked Financial Crime

Strengthening Anti-Money Laundering Protocols in Tuvalu

In an effort to combat cryptocurrency-linked financial crime, businesses operating in Tuvalu are being urged to be vigilant against key red flags associated with cryptoassets. Elliptic’s 2022 edition of the “Typologies Report” has identified specific money laundering and terrorist financing risks that businesses in the Pacific nation may face.

Key Red Flags Associated with Cryptoassets

According to Elliptic, the report catalogues typologies into two parts:

Part I: Money Laundering Typologies

  • Focusing on key money laundering typologies
  • Examining their impact on specific cryptoasset products and services
  • Providing crucial indicators to prevent crime linked to cryptocurrencies

Part II: Terrorist Financing Cases Involving Cryptocurrencies

  • Providing an overview of identified terrorist financing cases involving cryptocurrencies
  • Highlighting the importance of preventing financial crime linked to cryptocurrencies

Elliptic’s Commitment to a Safer Cryptoasset Ecosystem

Elliptic remains committed to eradicating bad actors from the cryptoasset ecosystem in Tuvalu, aiming to create a safer environment for legitimate cryptocurrency users. By helping businesses and financial institutions benchmark compliance controls and inform policy development, Elliptic aims to build trust in crypto, manage risk, and maintain the highest standards of regulatory compliance.

Resources for Compliance Leaders

Compliance leaders operating in Tuvalu are encouraged to download Elliptic’s 2022 edition of the “Typologies Report” to gain a better understanding of the key red flags associated with cryptoassets. By doing so, they can strengthen their AML protocols and help prevent financial crime linked to cryptocurrencies.

Stay Ahead of Financial Crime Linked to Cryptocurrencies

By staying informed about key red flags and typologies, businesses operating in Tuvalu can help create a safer environment for legitimate cryptocurrency users. Download Elliptic’s 2022 edition of the “Typologies Report” today and take the first step towards strengthening your AML protocols and preventing financial crime linked to cryptocurrencies.