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FRA Strengthens Cryptocurrency Practice with New Director Thomas Hyun
Forensic Risk Alliance (FRA), an independent consultancy specializing in regulatory investigations, compliance and litigation, has welcomed U.S.-based cryptocurrency specialist Thomas Hyun as a director of the firm’s global cryptocurrency investigations and compliance practice. Hyun brings to the firm years of experience building and leading anti-money laundering (AML) compliance programs, including emerging payment technologies in the blockchain and digital asset ecosystem.
Hyun has nearly 15 years of experience as a compliance officer. Prior to joining FRA, he served as Director of AML and Blockchain Strategy at PayPal for four years. He established PayPal’s financial crime policy and control framework for its cryptocurrency-related products, including PayPal’s first consumer-facing cryptocurrency offering on PayPal and Venmo, as well as PayPal’s branded stablecoin.
At PayPal, Hyun oversaw the second-line AML program for the cryptocurrency business. His responsibilities included drafting financial crime policies supporting the cryptocurrency business, establishing governance and escalation processes for high-risk partners, providing credible challenge and oversight of front-line program areas, and reporting to the Board and associated authorized committees on program performance.
Prior to joining PayPal, Hyun served as Chief Compliance Officer and Bank Secrecy Officer (BSA) at Paxos, a global blockchain infrastructure company. At Paxos, he was responsible for implementing the compliance program, including anti-money laundering and sanctions, around the company’s digital asset exchange and its asset-backed tokens and stablecoins. He also supported the company’s regulatory engagement efforts, securing regulatory approvals, supporting regulatory reviews, and ensuring compliance with relevant digital asset requirements and guidelines.
Thomas brings additional experience in payments and financial crime compliance (FCC), having previously served as Vice President of Compliance at Mastercard, where he was responsible for compliance for its consumer products portfolio. He also spent more than seven years in EY’s forensics practice, working on various FCC investigations for U.S. and foreign financial institutions.
Hyun is a Certified Anti-Money Laundering Specialist (CAMS) and a Certified Fraud Examiner (CFE). He is a graduate of New York University’s Stern School of Business, where he earned a bachelor’s degree in finance and accounting. Additionally, he serves on the board of directors for the Central Ohio Association of Certified Anti-Money Laundering Specialists (ACAMS) chapter.
Commenting on his appointment, Hyun said, “With my experience overseeing and implementing effective compliance programs at various levels of maturity and growth, whether in a startup environment or large enterprises, I am excited to help our clients overcome similar obstacles and challenges to improve their financial crime compliance programs. I am excited to join FRA and leverage my experience to help clients navigate the complexities of AML compliance and financial crime prevention in this dynamic space.”
FRA Partner, Roy Pollittadded: “As the FRA’s sponsor partner for our growing Cryptocurrency Investigations and Compliance practice, I am thrilled to have Thomas join our ever-expanding team. The rapid evolution of blockchain and digital asset technologies presents both exciting opportunities and significant compliance challenges. Hiring Thomas in a leadership role underscores our commitment to staying at the forefront of the industry by enhancing our expertise in anti-money laundering and blockchain strategy.”
“Thomas’ extensive background in financial crime compliance and proven track record of building risk-based FCC programs in the blockchain and digital asset space will be invaluable as we continue to provide our clients with the highest level of service and innovative solutions.”
“FRA strengthens cryptocurrency practice with new director Thomas Hyun” was originally created and published by International Accounting Bulletina brand owned by GlobalData.
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