Coinfirm is Setting the Crypto AML Compliance Standard

RegTech heavyweight Coinfirm – in its award-winning AML Platform – has introduced support for cross-blockchain risk analysis, in addition to rolling out Entity Due Diligence (Entity DD).

Cross-blockchain analysis gives crypto compliance monitoring teams unprecedented levels of insight in contexts where a crypto address was involved in a transaction crossing between different blockchains. Entity DD, on the other hand, provides detailed information about entities operating in the blockchain ecosystem.

Cross-blockchain analysis takes into account incoming and outgoing transactions on the monitored bridges, asset types, block heights, timestamps and other on-chain data. The analysis type is incorporated into the AML Platform’s Proximity Path algorithms, allowing for the scrutiny of cross-blockchain flows – no matter how many times inter-blockchain bridges have been crossed.

Entity DD allows for easy and fast checking of the risks associated with a specific entity. Coinfirm is perpetually enriching useful databases for compliance by screening virtual asset service providers (VASPs), such as searching for negative news and reviewing the know your customer (KYC) processes of the said VASPs, to help our ecosystem understand the exact risks associated with doing business with a given organisation.

Coinfirm created Entity DD for compliance officers, investors, regulators, and those needing to understand the risks related to a given VASP. Information provided by Entity DD on Coinfirm’s AML Platform includes, among others: overall risk, business activity nature, licensing and authorisation information, countries of identified activity, AML and KYC information, known negative news and services or products offered by the entity in question.

“Leveraging our asset and chain coverage, combined with cross-chain analyses and detailed insights in VASPs and other crypto entities, empowers compliance officers with actionable intelligence to create a safer blockchain economy.” – Dr. Mircea Mihaescu, Coinfirm CEO

Coinfirm has also extended support to over 920,000 tokens and 45 blockchains, making the firm the undisputed industry leader in terms of coverage for AML/CFT compliance.

About Coinfirm

Coinfirm is the world leader in blockchain analytics and RegTech solutions, creating a safer blockchain economy – by protecting entities from being tainted with funds originating from illicit activities like ransomware hacks, human trafficking and terrorist financing – through risk scoring entities, addresses and transactions.

The company, using 350+ proprietary risk algorithms while monitoring 25k+ blockchain entities, provides seamless, scalable tools to comply with stringent regulatory requirements for both CeFi and DeFi.

Founded in 2016, Coinfirm is headquartered in the UK, with the company retaining offices in Poland, Canada, France and Japan. Over 300 entities have trusted the company to provide RegTech solutions.

For more information visit: www.coinfirm.com

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Contact information

Rafal Janik
rafal.janik@coinfirm.com
+48 668 031 914