Tech such as blockchain analytics, crypto risk assessment tools, and transaction monitoring systems.
Cryptocurrencies present significant challenges in the context of financial crime and risk management. While offering innovative financial solutions, they also create new opportunities for illicit activities. Risks related to Crypto can include: - Money Laundering: Cryptocurrencies enable anonymous transfers between buyers and sellers, making it challenging to track the source and destination of funds. - Fraud: Scams are the most common type of cryptocurrency-related crime, with fraudsters stealing over $1 billion in just six months. - Cross-border Transactions: The global reach of cryptocurrencies increases AML/CTF risks and complicates supervision and enforcement. - Anonymity: The pseudonymous nature of crypto transactions makes Know Your Customer (KYC) checks difficult. - Lack of Oversight: Without proper AML systems, suspicious trading activity can go undetected. Several technologies and tools are available to manage and detect risks in the crypto space: - Blockchain Analytics: Companies like Elliptic provide blockchain analytics tools for financial crime risk management, offering crypto compliance solutions and AML tools. - Crypto Risk Assessment Matrix (C-RAM): This model assesses risks associated with cryptocurrencies at both national and international levels. - Crypto Treasury Management Software: These tools offer risk management features to identify potential threats to digital asset values. - Blockchain-based Transaction Monitoring: Blockchain technology enables the creation of immutable transaction records, making it easier to trace and detect suspicious activities. - Smart Contracts: These can be leveraged to automate certain risk management processes. - Multi-party Computation (MPC): This cryptographic protocol enhances security by distributing private keys, making them less vulnerable to exploitationExplore the vendors and technologies available in the Crypto category here on RiskTechRadar.
Lukka Blockchain Analytics SaaS is a web-based platform designed to provide transaction, wallet, and cluster monitoring for crypto assets. The solution aims to empower organizations to analyze their business’s on-chain data for enhanced insights into risk, compliance, and operational efficiency. Key...
Lukka Blockchain Investigator SaaS is a fully automated and real-time solution for blockchain investigations, designed for law enforcement, regulators, and corporations. This platform enables comprehensive "Source of Funds" and "Destination of Funds" analysis using a list of transactions or wallet a...
Chainalysis Blockchain Intelligence delivers insights into the cryptocurrency ecosystem by mapping real-world entities to on-chain activity. Leveraging machine learning, forensic expertise, and a global intelligence network, it empowers organizations to detect, investigate, and mitigate risks associ...
Chainalysis Crypto Compliance is a compliance management solution designed to help organizations navigate the evolving crypto landscape. Used by financial institutions, centralized exchanges, and crypto businesses, the solution enables users to align their operations with regulatory requirements, pr...
Chainalysis Investigations is a blockchain intelligence solution designed to combat crypto-related crimes and support compliance efforts across various industries. Trusted by law enforcement agencies, regulators, and private sector institutions, this tool leverages advanced analytics to trace crypto...
The Chainalysis Platform is designed to provide scalable, secure, and extensible blockchain analysis solutions. It serves as the backbone for Chainalysis’s industry-leading products and services, enabling organizations to harness the full power of blockchain intelligence for a variety of use cases, ...
Coinpath® is a range of blockchain money tracing APIs offered by Bitquery. They are designed to perform complex calculations between blockchain addresses to reveal the flow of funds. The APIs help to enable crypto compliance, investigation, and the running of blockchain monitoring software.
Coinpath® MoneyFlow is Bitquery’s advanced crypto investigation solution designed to empower investigators, law enforcement agencies, and government authorities with comprehensive tools for tracking and visualizing the flow of cryptocurrency across multiple blockchains. This platform is tailored to ...
Elliptic Data is a blockchain intelligence solution that empowers organizations with insights into the crypto ecosystem. Designed to fill intelligence gaps, it provides customized datasets spanning both on-chain and off-chain sources to help detect illicit activities, identify actors, and analyze tr...
Elliptic Discovery is a due diligence solution designed to help financial institutions, cryptocurrency businesses, and regulators confidently evaluate and manage risk associated with Virtual Asset Service Providers (VASPs) and other crypto entities. By leveraging a comprehensive on-chain dataset, El...
Elliptic Investigator is a blockchain forensics solution designed to empower investigators with the tools needed to efficiently trace, analyze, and resolve cases involving cryptocurrency transactions. It enables users to conduct comprehensive cross-chain investigations with a single click, providing...
Elliptic Lens is a crypto wallet screening solution designed to help organizations assess wallet activity for links to illicit behaviour in real-time. By leveraging chain-agnostic technology, Elliptic Lens enables businesses, financial institutions, and regulators to uncover connections to criminal ...
Elliptic Navigator is an advanced crypto transaction monitoring solution designed to detect and prevent illicit activity across the blockchain ecosystem. Built for scalability, it enables businesses, financial institutions, and regulators to monitor cryptocurrency transactions in real-time and at sc...
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