Tagged: ciphertrace

US Dept of the Treasury’s Office of Foreign Assets Control Sanctions Individuals, Entities for Attempting to Undermine 2020 US Presidential Election: Report

On April 15, 2021, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned 16 individuals and 16 entities for “attempting to undermine and influence the 2020 US presidential election,” blockchain security firm CipherTrace noted in a blog post. CipherTrace also mentioned… Read More

Global Fintech Ibanera Teams Up With CipherTrace to Enhance Cryptocurrency Anti-Money Laundering & Know Your Transaction Compliance Solution

Ibanera, a global fintech, announced on Tuesday it has teamed up with cryptocurrency intelligence company CipherTrace to enhance Ibanera’s cryptocurrency Anti-Money Laundering (AML) and Know Your Transaction (KYT) compliance solution. As previously reported, Ibanera’s platform provides account issuance, cross-border transfers, and currency exchange services to both… Read More

Crypto Intelligence Firm CipherTrace Is Using Chainlink to Help DeFi Apps Follow OFAC Sanctions Requirements

Cryptocurrency intelligence firm CipherTrace is reportedly using Chainlink to release CipherTrace DeFi Compli: a compliance solution enabling decentralized or non-custodial exchanges (DEXs) and other DeFi apps to adhere to the Office of Foreign Assets Control (OFAC) sanctions requirements. As part of its decentralized finance (DeFi)… Read More

CipherTrace and Blockchain Industry Insiders Comment on Updated FATF Guidelines on Virtual Assets and VASPs

Blockchain security firm CipherTrace has provided an analysis on the proposed Financial Action Task Force (FATF) guidance for digital assets and virtual asset service providers (VASPs). On March 19, 2021, global anti-money laundering watchdog, the FATF, released a public consultation for its latest Draft Guidance… Read More

CipherTrace Explains how its Traveler Product Assists VASPs with Following Global Travel Rule Regulations

Blockchain security firm CipherTrace notes that its Traveler product has been developed to assist virtual asset service providers or VASPs with adhering to the international “Travel Rule” regulations by securely sharing digital currency transaction details with other “vetted” VASPs. CipherTrace explains that its tools are… Read More

Crypto Transactions have AML Capabilities that are Almost Impossible to Replicate in Traditional Investigations: CipherTrace

Blockchain security firm CipherTrace notes that during her confirmation hearing on January 19, Dr. Janet Yellen, US President Joe Biden’s pick for Secretary of the Treasury, had said that “many” virtual currencies remain “a particular concern” when it comes to terrorism and criminal financing (and… Read More

Blockchain Security Firm CipherTrace Clarifies how Virtual Asset Service Providers, Money Service Businesses are Categorized by Regulators

Blockchain security firm CipherTrace recently explained and discussed the differences between virtual asset service providers (VASPs), money service businesses (MSB), money transmitters, digital asset customers, and how they impact crypto-related compliance measures. CipherTrace noted that cryptocurrency, digital assets, convertible virtual currency, and other terms seem… Read More

Only 22% of Banking Professionals and Financial Investigators Feel “Confident” Identifying Crypto related Transfers: Survey

Blockchain security firm CipherTrace reports that only 22% of banking industry professionals and financial investigators “feel confident” in their ability to accurately identify cryptocurrency -related payments. In a December 9, 2020, CipherTrace-ACFCS Webinar on “How Cryptocurrency Intelligence Tipped the Scales in 2020 Sanctions Evasion,” more… Read More

Cryptocurrency Users’ Funds are Being Stolen via Malicious Chrome Browser Extension Phishing Attack: Report

Blockchain security firm Ciphertrace noted in a blog post published on December 2, 2020 that within the last 24 hours, the company noticed a significant uptick of alerts and comments within the online digital currency community of users’ funds having been stolen through a malicious… Read More

Number of Virtual Asset Transactions Triggering Travel Rule Thresholds Could Increase Significantly Under FinCEN’s New Rules: Report

Blockchain security firm Ciphertrace has noted that FinCEN’s suggested rule change for the Travel Rule Threshold would “more than double” compliance events for US-based virtual asset service providers or VASPs. CipherTrace confirms that FinCEN had released a proposed rule change (in October 2020). The recommendation… Read More

Over 90% of Actual Cryptocurrency related Transactions within a Financial Institution Might Not Even be Detected: Report

Current Financial Crimes Enforcement Network (FinCEN) regulations state that it’s the responsibility of all financial service providers to accurately and promptly identify and report any suspicious or potentially fraudulent activity. This activity may be related to how criminals or bad actors exploit convertible virtual currencies… Read More

Gunning for Hackers: Ethereum Classic Labs to Pursue Criminal Charges Against Perps Involved with Recent Attack on Ethereum Classic Blockchain

Ethereum Classic Labs (ETC Labs), the core developer and organization for the Ethereum Classic (ETC) blockchain, has partnered up with crypto-sleuth firm CipherTrace and Kobre & Kim to uncover the individuals involved in the recent attacks on the Ethereum Classic blockchain. According to a release,… Read More

US SEC Awards Contract to CipherTrace because it’s the “Only Known” Blockchain Forensics Tool that can Track Binance Chain Transactions

The US Securities and Exchange Commission (SEC) revealed on July 29, 2020 that it’s planning to award a single-source contract to blockchain security firm CipherTrace, a Menlo Park, California based business that recently introduced real-time predictive risk scoring for cryptocurrencies. The SEC said that CipherTrace… Read More

CipherTrace Introduces Cryptocurrency Real-Time Predictive Risk Scoring

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),… Read More

Crypto Scams, Frauds, Hacks etc. Stole $1.36 Billion in First 5 Months of 2020: Report

The cryptocurrency sector of finance has long been a hotbed for fraud, scams, hacks, and crimes. The relative anonymity (or perceived anonymity) along with the ability to seamlessly transfer value in seconds has been catnip for crooks. Industry participants have struggled in the ongoing cat… Read More

CipherTrace Announces New Feature “Armada” to Provide Financial Institutions Critical Visibility Into High-Risk Cryptocurrency Payment Blind Spots

Blockchain security company CipherTrace announced this week the launch of its new feature, Armada. According to CipherTrace, Armada was created to support banks and financial institutions in achieving AML compliance by providing critical visibility into risky cryptocurrency blind spots so know your customer (KYC) processes… Read More

CipherTrace Enlisted to Advise Japanese Regulators on FATF Crypto Travel Rules

CipherTrace, a cryptocurrency research and tracking platform that provides services to both the public and private sector, has distributed a note that it is meeting with Japanese financial regulators to review the relatively new FATF travel rules and its impact on “virtual asset service providers… Read More

Emails Fill the Inbox as Fintechs Assure Customers that its Business as Usual (Pretty Much)

After less than a week of COVID-19 fueled lockdown, it seems like the world has been turned upside down as a new reality has set in due to “social distancing” and “shelter in place” demands. In the US, the National Guard is not yet patrolling… Read More

New Jersey’s NICE Actimize Confirms CipherTrace has Joined Financial Crime and Compliance Platform X-Sight MarketPlace

New Jersey-based NICE Actimize, a subsidiary of Israel-headquartered NICE Ltd, recently confirmed that CipherTrace, a leading provider of digital currency intelligence and blockchain security, has joined the X-Sight Marketplace – which is an established platform for combating financial crime and ensuring compliance. The X-Sight Marketplace… Read More

CipherTrace Partners with Newly-Formed Anti-Human Trafficking Intelligence Initiative to Further Organization’s Efforts to Fight Human Trafficking

CipherTrace, an established provider of cryptocurrency-related intelligence and blockchain security solutions, recently revealed that it will team up with the newly-formed Anti-Human Trafficking Intelligence Initiative (ATII), in order to further the organization’s efforts related to fighting global human trafficking. Pamela Clegg, director of financial investigations… Read More

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