Webinar: Sanctions Compliance in Crypto by TRM Labs

A conversation on adapting sanctions programs for the world of crypto.

About This Webinar

In October 2021, the Treasury’s Office of Foreign Assets Control (OFAC) released guidance on best practice for cryptocurrency businesses as they navigate sanctions in the crypto space.

As part of that guidance, OFAC recommended that companies in the virtual currency industry develop a sanctions compliance program and conduct routine and, if appropriate, ongoing risk assessments to identify potential sanctions issues. This compliance program would include the use of blockchain intelligence and geolocation tools.

In this session, TRM Talks is joined by sanctions compliance experts with robust experience on building out sanctions compliance programs for crypto businesses to discuss:

•The ins and outs of how to approach implementing a sanctions compliance program
• Recent enforcement actions and subsequent key takeaways
• What are the next big issues in crypto-related sanctions compliance we should be thinking about?

Isabella Edmonds

Government Relations Associate

Isabella Edmonds is a Government Relations Associate at GeoComply. During her time at GeoComply, she has focused on regulations for the crypto and fintech industries, including sanctions compliance, licensing requirements, AML/CFT, and KYC processes. Over the years, she has participated in many TechSprints, Innovation Hours, and EU/UK RegTech Showcases with both U.S. and international government agencies, educating and advocating for the next-generation solutions of fraud prevention, compliance, digital identity authentication, and combatting cybercrime.

She graduated from the University of Pennsylvania, where she was in the Huntsman Program in International Studies and Business, a dual degree program between the College of Arts & Sciences and the Wharton School of Business.

Eric Lorber

Principal, Cyber, Risk & Regulatory Consulting Solutions, PwC

Eric is a Principal in the Cyber, Risk & Regulatory practice at PwC, where he advises global financial institutions, corporates, and fintech firms on issues related to sanctions and anti-money laundering/combating the financing of terrorism (AML/CFT) compliance.

He has helped clients create robust sanctions and AML compliance programs, designed and implemented sanctions and AML training courses, remediate following regulatory actions, and provided strategic advice to clients interfacing with regulatory and enforcement agencies.

Prior to joining PwC, Eric was a managing director at K2 Integrity, where he led the sanctions advisory practice in the Washington, D.C. office. Prior to K2, he was a senior advisor to the Under Secretary for Terrorism and Financial Intelligence (TFI) at the United States Department of the Treasury, where he provided strategic guidance on U.S. sanctions and AML/CFT policies. Earlier in his career, he was an attorney at Gibson, Dunn & Crutcher, where he advised clients in the areas of international trade regulation, compliance, and anti-corruption.

His commentary on sanctions and related issues have appeared widely in the press and academic journals such as The Washington Post, The Wall Street Journal, Bloomberg, the New York Times, and Foreign Affairs. He has testified before the United States Senate Judiciary Committee, Senate Banking Committee, the House Financial Services Committee, the House Committee on Foreign Affairs, and the House Permanent Subcommittee on Intelligence on sanctions, illicit finance, and related issues.

Dallas Woodrum

Section Chief, Enforcement Division, OFAC

Dallas Woodrum is a section chief in the Enforcement Division of the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC). In this role, Dallas oversees civil law enforcement investigations of apparent violations of the sanctions programs administered by OFAC, including investigations related to virtual currency. Additionally, Dallas’ division is OFAC’s primary liaison with federal and state law enforcement agencies, including the Department of Commerce, the Department of Homeland Security, and the Department of Justice.

Ari Redbord (moderator)

Head of Legal and Government Affairs, TRM Labs

Ari Redbord is Head of Legal and Government Affairs at TRM Labs, a blockchain analytics company. Prior to joining TRM Labs, he served as a Senior Advisor to the Deputy Secretary and the Under Secretary for Terrorism and Financial Intelligence at the United States Department of Treasury. In this capacity, he worked with teams from the Financial Crimes Enforcement Network (FinCEN), Office of Foreign Assets Control (OFAC), and other Treasury and interagency components on issues related to sanctions, the Bank Secrecy Act, cryptocurrency, and anti-money laundering strategies.

Previously, Mr. Redbord served as a Senior Assistant United States Attorney for the District of Columbia, where he investigated and prosecuted cases related to cryptocurrency, terrorist financing, sanctions evasion, export control, child exploitation and human trafficking. He has received numerous awards from FinCEN, the FBI, and the United States Attorney's Office, including the Attorney General's Award for leading an interagency task force dedicated to prosecuting those who abuse and exploit children.