The Forensic Risk Alliance (FRA) has recently elevated its global cryptocurrency investigations and compliance practice by appointing Thomas Hyun as a director. To gain a deeper understanding of this strategic decision, I had the opportunity to speak with Emily Grant, a senior consultant at FRA who has closely monitored this significant transition.
Emily welcomed me into her office with a warm demeanor and a professional handshake, reflecting the ethos of FRA. “It’s an exhilarating time for us,” she began, her enthusiasm unmistakable. “The addition of Thomas Hyun to our team marks a pivotal advancement in our cryptocurrency practice.”
Thomas Hyun brings a distinguished background to FRA, boasting nearly 15 years of experience in compliance leadership. His previous role was at PayPal, where he served as the Director of AML and Blockchain Strategy. “At PayPal, Thomas was instrumental in crafting the financial crime policy and control framework for cryptocurrency-related products,” Emily elaborated. “He was pivotal in launching PayPal’s first consumer-facing cryptocurrency offering on both PayPal and Venmo, as well as the company’s branded stablecoin.”
Emily underscored the value that Hyun’s extensive experience would bring to FRA’s clientele. “He possesses a rare ability to maintain a holistic view while meticulously addressing intricate details. This dual focus is essential in the rapidly evolving realms of cryptocurrency and blockchain technology.”
Prior to his tenure at PayPal, Hyun was the Director of Compliance and BSA Officer at Paxos, a global blockchain infrastructure firm. During his time there, he spearheaded the compliance program, encompassing AML and sanctions, for the company’s digital asset exchange and its asset-backed tokens and stablecoins. “His contributions at Paxos were groundbreaking,” Emily remarked. “He was instrumental in regulatory engagement efforts and securing approvals, a significant achievement in the digital asset sector.”
Hyun’s career also includes influential roles at Mastercard, where he served as Vice President of Compliance, and at EY, where he spent over seven years in the forensics practice. “His diverse background across various facets of financial crime compliance makes him an ideal fit for FRA,” Emily asserted with confidence.
As our discussion deepened, Emily illuminated the strategic importance of Hyun’s appointment. “The swift evolution of blockchain and digital asset technologies offers both exciting prospects and substantial compliance challenges,” she explained. “Having someone like Thomas, with a proven track record in developing risk-based FCC programs in this domain, will be an invaluable asset for us.”
Inquiring about Hyun’s immediate priorities upon joining FRA, I learned that he is eager to leverage his expertise to assist clients in navigating the complexities of AML compliance and financial crime prevention within the cryptocurrency space. “He is already working on enhancing our existing frameworks and introducing innovative solutions tailored to the unique challenges our clients face in this dynamic environment,” Emily disclosed.
Emily’s admiration for Hyun’s work was evident as she recounted a recent internal meeting. “He shared some remarkable insights on how we can better support our clients, particularly those in the nascent stages of their cryptocurrency ventures. His experience across both startup settings and large enterprises provides him with a distinct perspective that will undoubtedly benefit our clients.”
As our conversation drew to a close, Emily reflected on the broader implications of Hyun’s appointment for FRA. “We are committed to staying at the forefront of the industry by continually advancing our expertise in AML and blockchain strategy,” she stated. “Thomas’s arrival underscores this commitment and sends a strong message to our clients and partners that we are dedicated to delivering the highest level of service and innovative solutions.”
FRA’s decision to onboard Thomas Hyun is evidently a strategic maneuver aimed at bolstering their cryptocurrency practice. With his extensive background in financial crime compliance and a proven track record in blockchain and digital assets, Hyun is well-prepared to guide FRA through the intricacies and opportunities that the future holds.
As I departed from Emily’s office, I was struck by a sense of anticipation for FRA’s trajectory and its clients. With experts like Thomas Hyun at the helm, the firm is undoubtedly poised for greater success in the ever-shifting landscape of cryptocurrency and financial compliance.
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