The Forensic Threat Alliance (FRA) – an unbiased forensic consultancy specialising in regulatory investigations, compliance and disputes – has welcomed US-based cryptocurrency specialist Thomas Hyun as a director within the agency’s world cryptocurrency investigations and compliance practice. Hyun brings to the agency years of expertise constructing and main anti-money laundering (AML) compliance packages, notably in rising fee applied sciences throughout the blockchain and digital asset ecosystem.
Hyun has nearly 15 years of expertise as a compliance chief. Earlier than becoming a member of FRA, he served because the director of AML and blockchain technique at PayPal for 4 years. He established PayPal’s monetary crime coverage and management framework for its cryptocurrency-related merchandise, together with PayPal’s first consumer-facing cryptocurrency providing on PayPal and Venmo, in addition to PayPal’s branded stablecoin.
At PayPal, Hyun led second-line AML programme oversight for the cryptocurrency enterprise. His tasks included authoring monetary crime-related insurance policies supporting the cryptocurrency enterprise, establishing governance and escalation processes for high-risk companions, offering credible problem and oversight over first-line program areas, and reporting to the board and related authorised committees relating to program efficiency.
Earlier than his tenure at PayPal, Hyun served because the director of compliance and financial institution secrecy act (BSA) officer at Paxos, a world blockchain infrastructure agency. At Paxos, he was answerable for implementing the compliance programme, together with AML and sanctions, across the agency’s digital asset trade and its asset-backed tokens and stablecoins. He additionally supported the agency’s regulatory engagement efforts, securing regulatory approvals, supporting regulatory examinations, and making certain adherence to related obligations and steerage regarding digital belongings.
Thomas brings further expertise in funds and monetary crime compliance (FCC) issues, having beforehand served as vice chairman of compliance at Mastercard, the place he was the devoted compliance officer for its shopper merchandise portfolio. He additionally spent over seven years throughout the forensics practice at EY, engaged on a wide range of FCC investigations for US and overseas monetary establishments.
Hyun is a licensed anti-Cash laundering specialist (CAMS) and a licensed fraud examiner (CFE). He graduated from New York College’s Stern Faculty of Enterprise with a bachelor of science in finance and accounting. Moreover, he serves on the board of the Central Ohio Affiliation of Licensed Anti-Cash Laundering Specialists (ACAMS) chapter.
Commenting on his appointment, Hyun stated: “With my expertise in overseeing and implementing profitable compliance packages throughout completely different ranges of maturity and development; whether or not in a startup setting or throughout giant enterprises, I’m excited to assist our shoppers as they deal with related hurdles and challenges to uplift their monetary crime compliance packages. I’m thrilled to hitch FRA and leverage my expertise to assist shoppers navigate the complexities of AML compliance and monetary crime prevention on this dynamic area.”
FRA associate, Roy Pollitt, added: “As FRA’s Accomplice sponsor for our rising Cryptocurrency Investigations and Compliance practice, I’m thrilled that Thomas will probably be becoming a member of our ever-expanding group. The fast evolution of blockchain and digital asset applied sciences presents each thrilling alternatives and vital compliance challenges. Our senior rent of Thomas underscores our dedication to staying on the forefront of the trade by enhancing our experience in AML and blockchain technique.
“Thomas’s intensive expertise in monetary crime compliance and his confirmed monitor file in constructing risk-based FCC packages within the blockchain and digital asset area will probably be invaluable as we proceed to offer our shoppers with the very best degree of service and revolutionary options.”
“FRA strengthens cryptocurrency practice with new director Thomas Hyun” was initially created and revealed by International Accounting Bulletin, a GlobalData owned model.
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