SOURCE: WingCash

WingCash

January 30, 2015 11:16 ET

WingCash CEO Bradley Wilkes to Speak on the Influence of Digital Currency on Money Laundering

SALT LAKE CITY, UT--(Marketwired - Jan 30, 2015) - WingCash today announced that its CEO, Bradley Wilkes will present on the highly topical subject of "How Digital Currency Changes the Money Laundering Landscape" at the Greater Salt Lake City Chapter of the Association of Certified Anti-Money Laundering Specialists (ACAMS). The presentation will be held on Thursday, Feb. 12 at noon at the Zions Bank Avenues Financial Center 455 E. South Temple (2nd Floor) Salt Lake City, Utah.

"Bradley Wilkes is one of our industry's foremost experts on digital currency," said Aaron Blankenstein, co-chair of the Greater Salt Lake City Chapter of ACAMS and BSA/AML officer of GE Capital Bank. "We are grateful to have him speak on the intersection of digital currency and money laundering. This topic is a growing concern on a daily basis for financial institutions, merchants, regulatory agencies and even consumers. Better understanding of digital currencies will help pave the way for greater effectiveness in combating illegal activities."

The market is witnessing an unprecedented evolution into digital currency that changes not only what people buy, but where they shop and how they pay. At the center of this sea change are the various forms of digital currency, which enables the advancement of global commerce to a degree that humanity has never seen. Conversely, it also opens the opportunity for criminal activities including the laundering of billions of dollars each year.

"Protecting the financial system from use and abuse by criminals is an ongoing process and continual effort," Wilkes said. "The landscape is changing and those concerned with protecting the integrity of our financial system need to be several steps ahead. The industry is constantly looking for ways to improve the veracity of digital payment systems, including eWallets. Security is a regular, ongoing iterative process of identifying potential weaknesses and fortifying those against unintended use and abuse. Security is comprehensive and important from a systems perspective. Moving cash to a cloud-based eWallet system secures the payment in ways that were previously more difficult or not even possible."

Individuals and organizations wishing to attend the event may RSVP at the ACAMS site http://www.acams.org/greater-salt-lake-city-chapter/#tabbed-nav=events. The cost for Greater Salt Lake City ACAMS Chapter members is $10. The cost for non-chapter members is $15. Lunch will be provided.

About WingCash: WingCash is an innovative system of electronic wallets that combines payments and promotions with digital currency. WingCash gives consumers a convenient, secure, cloud-based wallet that holds payment cards, national currencies, and brand cash. It gives businesses a low-cost way of branding themselves within a wallet and driving their loyalty/rewards programs. Financial institutions can participate by earning transfer fees, by holding cash as it circulates and by having a payment card it issues enrolled in the wallet. For more information, visit www.wingcash.com.

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