A Guide to Anti-Money Laundering for Crypto Firms
Reduce risks with real-time screening and automated monitoring
Crypto companies must have robust AML processes. They must verify the identity of every sender and beneficiary, to ensure there are no illegal activities, such as money laundering or terrorist financing.
Crypto assets, wallets, and exchanges face CFT/AML regulations worldwide. They are considered ‘obliged entities’ under the EU’s 5AMLD directive. That means they must perform customer due diligence (CDD) and submit suspicious activity reports (SARs). The anonymity and high-risk models in cryptocurrency have led to enhanced supervision by auditors and banking partners.
Our AI-driven solutions ensure that crypto companies comply with regulatory expectations across various jurisdictions. We help crypto companies to quickly identify risks before they become threats, and to protect their reputations with banks and customers.
Inspire Confidence in Regulators and Banks
Show you have a clear audit trail of monitoring and financial crime investigations.
Ensure that new customers do not pose risks to your business and are not known fraudsters.
Access the Best Intelligence
We have the only global dynamic database of sanctions and watchlists, and it’s updated every 15 minutes.
Speed Up Customer Onboarding
Customize our matching technology according to your risk appetite.
Screening & Monitoring
Fast and safe customer onboarding and monitoring
- Screen in real time against sanctions lists, and watchlists, politically exposed persons (PEPs), and adverse media.
- Receive proactive automated alerts when there are changes in status. Alerts are all tailored to your risk-based approach.
- Integrate AML checks seamlessly into your onboarding and monitoring workflow. We offer a highly functional and scalable RESTful API.
Data-agnostic rules engine to spot suspicious behavior in real time
- Real-time tracking of fund movements. We enable wallets and exchanges to spot suspicious behavior patterns when crypto-assets are transacted into fiat.
- Our API allows easy segmentation of rules by type of currency, location, and transaction volume. It’s all tailored to your risk-based approach.
- Our solution is data-agnostic. Incorporate crypto data such as wallet addresses.
See How We Have Helped Other Crypto Companies
Paxos Improved Efficiency by 80%
“Our number one priority was to get rid of manual processes and automate as much of the work as possible,” said Edward Luo, BSA/AML Officer, Compliance Paxos Trust Company. “What took one of our associates one full week to do can now be done in a matter of hours.”
UKDE Cut the Time Spent Remediating Alerts by 40%
“Thanks to ComplyAdvantage’s industry-leading database and matching algorithm, we are capable of meeting regulatory requirements and delivering service results with high efficiency,” said Guoyu Du, Co-Founder and Risk Director, UKDE Ltd.