SG Veteris Hires Raul Malmstein as New Director and MLRO

SG Veteris, a cryptocurrency-based fintech, said on Wednesday that it had appointed Raul Malmstein to establish a new office in Estonia and to secure a new cryptocurrency there.

According to the press release, as the former chairman of the Management Board of the Estonian Financial Supervision Authority (EFSA), Malmstein has nearly 30 years of experience in the financial services sector. Additionally, he served as EFSA's representative on the Committee of European Securities Regulators.

His previous experience includes serving on the Management Board of Cresco Securities AS. Previously, Malmstein worked for Hansa Asset Management, a subsidiary of Hansabank, and the Estonian Ministry of Economic Affairs. His recent ventures include Skuuper, a translation company that serves SMEs at a reasonable price, and Sharpminder, a blog on politics.

The Graduate School of the City University of New York awarded Malmstein a Master of Philosophy in sociology and a diploma in economics.

Future Duties

Malmstein will be responsible for day-to-day business activities in Estonia, primarily focused on Bitpace and Koinal, reporting to the CEO of SG Veteris, Anil Oncu. A risk-based approach will be adopted for anti-money laundering and counterterrorism financing prevention by him as the Director and MLRO (Money Laundering Reporting Officer) for the group.

“We want to continue being at the forefront of anti-money laundering risk analysis and in embedding robust alert and reporting mechanisms into all our cryptocurrency payment and trading platforms. Raul’s wealth of experience in AML and as a financial regulator will put us in a market-leading position to prevent and combat anti-money laundering threats and crimes, as well as in meeting the highest industry standards. He has a long track record in business planning, corporate finance, entrepreneurship and strategy which will be invaluable as we are increasingly operating in a fast-changing commercial and regulatory landscape. I am delighted that he has chosen SG Veteris for the next stage of his career and to welcome him to the team,” Oncu commented.