GUEST INTERVIEW: With Anti-Money Laundering (AML) and Anti-Terrorist Financing (CTF) management being a critical part of any financial organization, and especially for crypto and digital asset companies, Cabital has appointed Melbourne-based Luke Raven as senior money laundering reporting officer. not only to work globally, but to work towards the official opening of Cabital in Australia.

Cabal. Founded in 2020, Cabital describes itself as a trusted digital financial institution to buy, sell and earn cryptocurrency, and gives its customers the opportunity to generate up to 12% APY, noting that it is is about “Crypto. Without the madman”.

The company explains that its goal is to enable people to earn passive income securely with their cryptocurrencies, with its main product being Cabital Earn, intended as “a cryptocurrency savings platform that allows customers to earn high returns on their digital assets. Clients can use GBP, CHF and EUR to buy and sell cryptocurrencies at some of the most competitive rates available.”

A critical part of financial companies in the 21st century is the compliance program, which the company says is modeled after the world’s leading financial services providers, and it uses SumSub’s biometric identity verification solution to manage the risk of identity fraud.

To provide its clients with peace of mind, we are told that all client crypto assets are held by Fireblocks, one of the most trusted digital asset custody, transfer and settlement platforms in the world. Cabital has also used Chainalysis’s KYT and Reactor products since its inception to enable it to meet applicable anti-money laundering (AML) regulatory requirements in each of its markets “with ease and agility”.

Cabital also offers a commercial solution called Cabital Connect, described as “a secure fiat ingress and egress gateway for cryptocurrency platforms. When cryptocurrency companies integrate with Cabital Connect, their users will have a high-quality service option to purchase top-tier cryptocurrencies at some of the most competitive rates in the industry.Major cryptocurrency exchanges such as Bybit have integrated Cabital’s on-ramp fiat gateway.

Founded by Raymond Hsu in 2020, Hsu has worked for over a decade, holding leadership positions at fintech companies such as Airwallex and global banks such as Citibank, with Cabital’s management team having extensive work experience at leading traditional financial institutions including JPMorgan Chase & Co, Nomura Securities, UBS and AIA Group.

Thus, with Cabital’s appointment of Melbourne-based Australian Luke Raven as Senior Director of AML Compliance, overseeing Cabital’s Australian entity compliance program as the company prepares the appropriate documentation to approved to operate and serve customers in Australia, the company is expanding further globally, with Raven reporting directly to Chief Compliance Officer Justin Choo.

Raven’s primary responsibility will be to ensure that the company operates in compliance with all applicable Australian laws and regulations once Cabital’s registration with the Australian Transaction Reports and Analysis Center (AUSTRAC) is approved.

He has over twelve years of compliance experience with a focus on Anti-Money Laundering and Terrorist Financing (AML/CTF), Sanctions Monitoring, Fraud Monitoring and Prevention. and customer due diligence. With experience for both fintechs and Australian banks, Raven has implemented compliance frameworks that adhere to legislative standards, monitoring compliance with these programs and addressing gaps, ensuring continuous compliant development and improvement. industry best practices.

Famed author Lewis Carrol once asked why a crow is like a desk, a question with no real answer, but it sure sounds like this crow really likes the compliance desk, which is good news for Cabital’s business.

Raven joins Cabital from Wise (formerly TransferWise) where he served as AML Compliance Manager, responsible for the AML compliance and financial crime prevention framework for Wise’s Australian and New Zealand businesses. Previously, Luke worked for Westpac Bank as a senior manager of the commercial division’s anti-money laundering and financial crime advisory team; Airwallex Pty Ltd. as Chief Compliance Officer and Principal Analyst and Square Inc. as Principal Compliance Partner. Luke began his career in various roles at National Australia Bank’s Financial Crime Center of Excellence.

Justin Choo, Chief Compliance Officer at Cabital, said, “I am delighted to welcome Luke as Cabital’s lead money laundering reporting office for our Australian operations. I am confident that Luke will enable us to achieve Cabital’s strategic priorities in Australia and ensure that our compliance program is aligned with that of the world’s leading financial services providers.

Raven added: “I look forward to leading our operations in Australia as we prepare to help people across the country enter the rapidly growing cryptocurrency space. It’s an exciting time as Cabital continues to expand into new markets by bringing its global multi-asset platform – from Europe to Asia-Pacific.

So with all of this introducing Cabital and Luke Raven’s new position, it was great to be able to speak directly with Raven to learn more about her position, about Cabital, the industry, government attitudes towards crypto and much more again, with this video interview embedded directly below, followed by a recap of the topics we talked about.

• I started by introducing Luke, welcoming him to the program and asking him to explain Cabital and the products and services it offers in 2022.
• We discussed Cabital’s slogan “Crypto. Without the crazies”, and what it’s been like to join a crypto company in an age of inflation and war affecting the world.
• Luke then talked about his specialties in AML, CTF and Compliance, and why it’s so important today, after which we talked about the companies that didn’t quite get it.
• We talked about Cabital’s plans for Australia and how the company needs licensing and regulatory approval before it can do business here.
• I asked Luke how crypto companies could offer 12% interest in a world where banks have much lower rates.
• Luke shared his thoughts on upcoming national digital currencies, his thoughts on the Australian government’s stance and attitude towards crypto, his perceptions on crypto, fraud and sanctions evasion, and tips on how to protect and stay safe online.
• I then asked Luke to talk a bit about his own history in the tech world and what got him into the AML/CTF side, what he thinks the future holds for us. reserve, the good advice he received in life and his last message. viewers and readers, as well as current and future customers and partners of Cabital.

So, for more, watch the video interview with Luke Raven above!