WASHINGTON, Feb. 19, 2015 /PRNewswire-USNewswire/ -- The Chamber of Digital Commerce is pleased to announce that applications are now being accepted from bankers who would like to attend the Anti-Money Laundering Compliance Bootcamp for Digital Currencies in San Francisco on February 26-28, 2015. The Bootcamp has been approved for continuing education credits by ACAMS and the Conference of State Bank Supervisors (CSBS), and for CLE in California and New York.

Through the generous donations of its members and supporters, the Chamber is offering two grants to cover the cost of tuition for the intense two-day Bootcamp. This campaign is a focal point of the Chamber's initiative to bridge the information gap between the banking industry and the digital currency community. Interested parties or applicants should contact Dana Marston, [email protected], (202) 681-3371.

The Chamber believes banks will be more willing to provide digital currency companies with banking services if they better understand the AML compliance efforts of these companies, the issues they face and how similar these issues are to those facing banks, and what steps can and are being taken within the digital currency community to reduce AML risks. The course is also ideally suited for banks that are considering offering digital currency related services.

Participants will gain insight into the technology underlying digital currencies, how to analyze specific digital currency business models and the associated AML/CFT risks, and develop strategies for mitigating these risks while complying with specific Bank Secrecy Act requirements. Participants also will examine automated compliance solutions, tools and techniques that are being used by digital currency companies and banks to conduct customer due diligence (KYC) and detect, monitor and report suspicious activity involving digital currencies.

Valued at up to $2,495 each, the grants will be awarded to employees of banks or credit unions who demonstrate a strong desire to better understand digital currencies and gain greater awareness of the AML and OFAC compliance efforts within the digital currency community. The Chamber's Grant Committee will focus on individuals who wish to incorporate this knowledge into their organization's plans to offer banking services to digital currency related companies or to engage directly in digital currency activities.

This program is but one piece of the Chamber of Digital Commerce's key initiative to encourage the banking community to learn more about digital currencies and boost awareness of appropriate anti-money laundering compliance and management.

About the Bootcamp: The AML Compliance Bootcamp for Digital Currencies is an intense, interactive two-day program intended to help companies bolster their anti-money laundering compliance knowledge. An optional third day provides attendees with a hands-on laboratory for building out and analyzing an adequate and effective AML compliance program for digital currencies. The Bootcamp has been approved for continuing education credits by ACAMS, the Conference of State Banking Supervisors (CSBS), and the Digital Currency Council (DCC), as well as for continuing legal education (CLE) in New York and California. For more information on the Bootcamp, visit http://digitalchamber.org/bootcamp.html

About the Chamber of Digital Commerce: The Chamber is a Washington, D.C.-based trade association dedicated to promoting the understanding, acceptance and use of digital currencies and digital assets. The Chamber provides education, training and other information on digital assets and currencies to policy makers, businesses, consumers, and the community. For more information visit http://www.digitalchamber.org.

About the Financial Access Education Campaign

The Financial Access Education Campaign has been created by the Chamber of Digital Commerce in support of its initiative to create greater financial access for the digital currency community. The Chamber's Grant Program, sponsored by Tally Capital, will review applications and select the awardees. Parties interested in supporting this initiative should contact Dana Marston at [email protected].

SOURCE Chamber of Digital Commerce