![]() This provides companies with a clear and actionable source of information for implementing a risk-based approach to their AML protocols. ![]() Our Wallet Screening tool allows companies that facilitate or work with crypto transactions to generate reports that provide detailed breakdowns of a crypto address’ risk profile. ![]() It is also a powerful, simple and automated approach to remaining compliant with fast-evolving global regulations governing Virtual Assets (VAs) and Virtual Asset Service Providers (VASPs) – while reducing the need for large compliance teams. This capability can allow existing and future companies operating within the space to reduce the risk that transactions flowing through their platforms are being used for criminal activity. KYC-Chain’s Wallet Screening tool allows crypto companies and exchanges to generate AML/KYC Risk Reports that evaluate the money laundering risk of blockchain addresses and their owners. This danger is often cited as one of the main justifications for tighter regulation or even suppression of the space.ĭeveloping innovative tools for countering the threat – while preserving the clear benefits that crypto provides – is therefore critical to the space’s long term viability and success. While the crypto space has made giant strides in the last several years, the vulnerability of the industry to exploitation by criminals for money laundering and other illicit activity remains a problem.
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