When I speak to Web3 CEOs who want to scale their business in a healthy and sustainable manner, anti-money laundering (AML) is one of the key topics discussed.       

Why is it important for Web3 CEOs to comply with AML regulations?  

There are many bad actors that try to take advantage of technical and regulatory gaps to carry out their illicit activities.   You don't want your business to be a platform for such illicit activities.  

Also, criminal and civil penalties for violating AML regulation are too risky to ignore.   

Episode 4 of Blockchain Finance Podcast discusses this particular issue to help you become more familiar with AML regulations and requirements.  

As you take steps to comply with important AML regulations, remember three acronyms as below:

KYS (Know Your Self)
KYC (Know Your Customer)
KYT (Know Your Transactions)


1:50 - Bank Secrecy Act and Amendments through the USA Patriot Act and Anti-Money Laundering Act
5:15 - FinCEN and FINRA
8:08 - Why AML Compliance is Important 
10:02 - AML Compliance Requirements
10:43 - Key Acronyms to Remember (KYS, KYC and KYT)
16:00 - Concluding Remarks