Sidhardha "Sid" Kamaraju, a Partner in Pryor Cashman's White Collar Defense + Investigations, Financial Institutions, and Litigation Groups, co-authored an article with Paul Hinton, Principal at The Brattle Group, about issues facing cryptocurrency businesses working to comply with sanctions against Russia.
"Navigating Russia Sanctions Compliance in the Crypto Space," published by Bloomberg Law, "identifies some known limitations of traditional surveillance strategies centered on list-based screening and details particular compliance challenges facing cryptocurrency businesses... examines how past regulatory investigations demonstrate the sophistication needed to implement a risk-based approach to compliance, as advised by the Office of Foreign Assets Control (OFAC), to ensure financial services businesses are not exploited to conduct prohibited or illicit activities... [and] presents the considerable benefits of staying ahead of the constant adaptations of sanctioned actors to circumvent sanctions and anti-money laundering (AML) procedures."
Originally Published by Bloomberg Law
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