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Detection of financial risks and investigation of incorrect spelling crimes
Real-time monitoring of cryptocurrency entity dynamics
Tracking money flows and attributing them
Real-time monitoring of cryptocurrency entity dynamics
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Solution
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Trustformer API for real-time detection of suspicious ML transactions, supporting monitoring, alerts, and Al-driven audits
With Trustformer KYT APl, you can configure policies for your app and analyze transaction risk and compliance in real-time
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Travel Rule Solution
The Travel Rule solution is designed to meet financial regulations and ensure compliance in digital asset transactions. It automates the sharing of transaction information, making compliance more efficient and secure. Through verification, encryption, and monitoring, it ensures transactions adhere to international FATF standards, reducing legal risks and enhancing customer trust. This aids crypto financial institutions in adapting to regulations, safeguarding financial system stability, and lowering operational risks in digital asset operations.
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Background Story
The Financial Action Task Force (FATF) is a regulatory body focused on global anti-money laundering (AML), countering the financing of terrorism (CFT), and proliferation financing (PF). It establishes international standards aimed at preventing these illicit activities from causing harm to society. Over 200 jurisdictions worldwide have become members of FATF, committing to adhere to its recommendations.
Methods for money laundering, terrorist financing, and proliferation financing are constantly evolving, with criminals now beginning to exploit digital assets.
In October 2021, FATF updated its guidance on a risk-based approach for virtual assets and virtual asset service providers (VASPs).
· It mandates VASPs to implement the same preventative measures as financial institutions, including customer due diligence (CDD), record keeping, and reporting of suspicious transactions (STR). · When conducting transfers, obtaining, retaining, and securely transmitting originator and beneficiary information is required.
On June 27, 2023, FATF expanded anti-money laundering and countering the financing of terrorism (AML, CFT) measures to cover virtual assets (VA) and virtual asset service providers (VASPs), aiming to prevent the misuse of this sector by criminals and terrorists.
Challenge
With the rapid growth of the cryptocurrency industry, criminals have begun to exploit crypto assets, leading to the continuous expansion of FATF's regulatory scope and the increasing complexity and granularity of regulatory measures.
Digital asset investors and business operators lack high-quality, convenient tools to address Travel Rule's risk control and compliance challenges.
Effective technical solutions are needed to settle the problem of fines and freezing of funds caused by trading account risks and funding risks.
Solutions
Tracking and revealing transfers of risk assets on the chain
Trustformer's tracker system effectively trace the transfer of risky assets up the chain, reveals the relationship with the entity, and helps digital asset operators cooperate with FATF regulators to accomplish evidence search, seizure, and asset recovery.
FATF Suspicious Transaction Reports
Trustformer Travel Rule integrates into your business systems and compliance workflows to support policy configuration, automated auditing, Suspicious Transaction Reports (STR).
Enhance Customer Due Diligence (CDD)
Trustformer offers visualized analysis of digital asset trading behaviors, event analysis modeling, assessment of suspicious transaction activities, and investigation of fund flow tracking.
Transaction Monitoring and Investigation
Proactively alerting on suspicious transactions, money laundering (ML), terrorist financing (TF), proliferation financing (PF), and other related risks helps operational platforms take effective measures to mitigate risks.
AI-generated Report for Investigations
Leveraging the comprehensive capabilities of the Trustformer KYT analysis system, detailed and accurate multi-type reports are generated for subjects under investigation to address evidentiary requirements across various scenarios.
Risk Control Expert Services
Connect with Trustformer experts to help you interpret AML, CFT compliance policies in your business jurisdiction and provide guidance. We offer tailored solutions to match your needs.
Value
1. Supports monitoring analysis and investigation of crypto tokens used for money laundering, NFT, DeFi and more.
2. Meet FATF regulatory requirements to reduce capital risk and the risk of penalties.
3. Protect you and your customers funds and transactions, enhance trust, and boost your brand reputation.
4. Reduce risk control compliance costs and improve operational efficiency.