The Forensic Risk Alliance (FRA) – an independent forensic consultancy specialising in regulatory investigations, compliance and disputes – has welcomed US-based cryptocurrency specialist Thomas Hyun as a director in 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, notably in emerging payment technologies across the blockchain and digital asset ecosystem.
Hyun has almost 15 years of experience as a compliance leader. Before joining FRA, he served as the 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 led second-line AML programme oversight for the cryptocurrency business. His responsibilities included authoring financial crime-related policies supporting the cryptocurrency business, establishing governance and escalation processes for high-risk partners, providing credible challenge and oversight over first-line program areas, and reporting to the board and associated authorised committees regarding program performance.
Before his tenure at PayPal, Hyun served as the director of compliance and bank secrecy act (BSA) officer at Paxos, a global blockchain infrastructure firm. At Paxos, he was responsible for implementing the compliance programme, including AML and sanctions, around the firm’s digital asset exchange and its asset-backed tokens and stablecoins. He also supported the firm’s regulatory engagement efforts, securing regulatory approvals, supporting regulatory examinations, and ensuring adherence to relevant obligations and guidance concerning digital assets.
Thomas brings additional experience in payments and financial crime compliance (FCC) matters, having previously served as vice president of compliance at Mastercard, where he was the dedicated compliance officer for its consumer products portfolio. He also spent over seven years within the forensics practice at EY, working on a variety of FCC investigations for US and foreign financial institutions.
Hyun is a certified anti-Money laundering specialist (CAMS) and a certified fraud examiner (CFE). He graduated from New York University’s Stern School of Business with a bachelor of science in finance and accounting. Additionally, he serves on the board of the Central Ohio Association of Certified Anti-Money Laundering Specialists (ACAMS) chapter.
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By GlobalDataCommenting on his appointment, Hyun said: “With my experience in overseeing and implementing successful compliance programs across different levels of maturity and growth; whether in a startup environment or across large enterprises, I’m excited to help our clients as they tackle similar hurdles and challenges to uplift their financial crime compliance programs. I am thrilled 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 Pollitt, added: “As FRA’s Partner sponsor for our growing Cryptocurrency Investigations and Compliance practice, I am thrilled that Thomas will be joining our ever-expanding team. The rapid evolution of blockchain and digital asset technologies presents both exciting opportunities and significant compliance challenges. Our senior hire of Thomas underscores our commitment to staying at the forefront of the industry by enhancing our expertise in AML and blockchain strategy.
“Thomas’s extensive experience in financial crime compliance and his proven track record in 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.”
