The risk-based approach to counteracting money-laundering and terrorism-financing applies to all direct and indirect virtual asset service providers
The international success of this approach will have a lot to do with the regulatory procedures put in place at a local and regional level
The guidance set out by the FATF recommends first understanding and then mitigating risk by means of transparency and regulatory co-operation
As theft and fraud in the blockchain industry increases, consistent monitoring and risk-assessing is required to combat illicit activity
These features are given a high-risk score on the Crystal platform due to lack of transparency
With Crystal's monitoring system, as well as it's fund flows map, VASPs can assess the risk of funds received/ sent to certain geographies
Crystals analytics platform, along with heuristic analysis by the team, allows for effective assessment of suspicious transaction patterns
The notifications system on the Crystal platform can be customized to raise alerts on unusual transaction sizes by particular addresses
The combination of algorithmic risk-scoring as well as heuristic assessment of entities allows for a better understanding of sender/ recipient profiles and their sources of wealth
Crystal efficiently tracked payments from the victims of the WannaCry virus. It took four days for the virus to spread across 150 countries - it took Crystal only 3 hours to locate the online entity extorting payments from the affected users.
It is often difficult for users to know whether a mining service is trustworthy. Read on to see how Crystal can be used for due diligence before signing up for a mining service.
Regulations from the Financial Action Task Force (FATF) and the 6th Anti-Money Laundering Directive (6AMLD), mean that cryptocurrency services, and businesses exposed indirectly to cryptocurrencies, need to get …
In the latest product update, Crystal has added support for Ethereum classic, as well as commenting pins and grid options to the visualization tool
In the latest product update, support for Bitcoin SV has been added to the platform, along with dashboard visualization improvements, and further expansion of offchain coverage.
An analysis of cryptocurrency transactions made by crypto-criminals post-theft between 2015 and 2020, with a look at the fund flow patterns made using this stolen crypto.
At the V20 Summit in November 2020, the co-chair of the FATF’s Virtual Asset Contact Group, Sandra Garcia, stated that regulatory requirements for P2P exchanges may emerge in 2021 to combat AML, as they come under …