Blockchain security company CipherTrace announced on Wednesday its new cryptocurrency real-time transaction risk scoring with the addition of predictive capabilities to help exchanges, ATMs, OTC desks, hedge funds, custody solutions, payment processors, and financial investigators to ensure compliance with Anti-Money Laundering (AML), Counter-Terrorist Financing (CTF), and sanctions requirements
CiperTrace explained that the risk scoring is predictive and real-time analysis of cryptocurrencies—now a trillion-dollar market, allowing a safer environment for the world’s transactions. The company revealed:
“Being able to perform predictive analysis allows customers to see and protect stolen funds, freeze those funds, stop ransomware launderers, and protect customers from fraud. It also allows law enforcement agencies to take action immediately to protect investors, operators, and consumers.”
Also speaking about the scoring, Dave Jevans, CEO of CipherTrace, stated:
“The introduction of predictive risk scoring provides VASPs with a powerful new tool to identify potentially illicit funds before those transactions are finalized on the Bitcoin blockchain. This capability will also help VASPs offer an improved, more efficient user experience to their customers.”
CipherTrace then added the capability is now available to select customers, including law enforcement investigating the Twitter hacking case, and will be generally available to the entire customer base as of July 31st.