The Stout Regulatory Compliance and Financial Crimes Advisory team performed an independent anti-money laundering (AML) and Office of Foreign Assets Controls (OFAC) sanctions program review for a digital asset prime brokerage and clearing firm with operations in the U.S., U.K., and British Virgin Islands.

Stout performed a review of the firm’s AML and sanctions program and controls to determine its alignment with regulatory expectations and industry standards and best practices. The engagement included a comprehensive review of the firm’s controls related to governance, oversight, and management reporting, know your customer (KYC) and customer onboarding, customer due diligence (CDD) and enhanced due diligence (EDD) processes, counterparty due diligence, transaction monitoring, know your token (KYT), sanctions screening, suspicious activity reporting, training, and quality assurance.