Social media, messenger companies building cryptocurrencies 'cannot turn a blind eye to illicit transactions': FinCEN official

Jamal El-Hindi, the deputy director of the Financial Crimes Enforcement Network (FinCEN), has called on companies looking to bridge the worlds of cryptocurrency, social media and user messaging to be vigilant about illegal transactions.

El-Hindi spoke during the SIFMA 20th Anti-Money Laundering (AML) and Financial Crimes Conference in New York on Thursday. According to prepared remarks published by the agency,  such companies "cannot turn a blind eye to illicit transactions that they might be fostering."

"Social media and messaging platforms and others now focusing on the establishment of cryptocurrencies cannot turn a blind eye to illicit transactions that they may be fostering," El-Hindi said, adding:

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