Virtual currency is a medium of exchange circulated over a network but not backed by a government. The emergence of these cryptocurrencies as a new method of payment has broad implications for businesses, financial institutions, and the accounting profession. In this webcast, we will review the basic concepts of virtual currencies, discuss emerging fraud threats, including money laundering, and highlight examples of actual cases.
Learning objectives:
- Understand the concepts and origins of virtual currencies, as well as the
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