• Days
  • Hours
  • Mins
  • Secs
  • Tue, 17 Sep 2019, 08:39 AM
  • All times are UTC
  • Edition:
Copy link
Increase text size
Decrease text size
Link copied

Chainalysis launches ‘Chainalysis KYT Alerts’ to detect suspicious cryptocurrency activity in real-time

Fri, 23 Aug 2019, 06:14 am UTC

Crypto compliance startup Chainalysis has enhanced its Know Your Transaction (KTC) solution with a new real-time alert functionality.

Chainalysis KYT is a real-time anti-money laundering (AML) compliance solution for monitoring large volumes of cryptocurrency transactions to identify high-risk behavior. More than 100 financial institutions and cryptocurrency exchanges have reportedly signed up for Chainalysis KYT.

The company has now launched ‘Alerts’ in Chainalysis KYT, which will generate alerts whenever a transfer involves a risky counterparty and crosses a value threshold.

According to the official announcement, the alert feature has been built directly into the user interface and API. It has been designed to help cryptocurrency businesses and financial institutions mitigate exposure to regulatory and reputational risk by enabling them to track, investigate, or take action on risky transfers.

With this feature, compliance teams would be able to focus on the most urgent activity and enforce compliance policies while better allocating resources.

Chainalysis said that the new alert functionality is available for all 15 cryptocurrencies supported by it, including Bitcoin, Ether, Bitcoin Cash, Litecoin, and top stablecoins and ERC-20 tokens such as Tether, Maker, and Dai. It plans to add support for additional cryptocurrencies soon.

There are different alert levels – Severe, High, Medium, and Low – which depends on various factors such as category, service, direct versus indirect exposure, direction of funds, and amount.

"As lawmakers and regulators focus their attention on the industry, it is more critical than ever that cryptocurrency businesses demonstrate compliance best practices," said John Dempsey, VP Product, Chainalysis. "Every minute counts when managing exposure to sanctioned entities, hacked funds, darknet markets, and other illicit activities, which is why Chainalysis is investing in fast, actionable alerts to help our customers mitigate risk across cryptocurrencies."

Based in New York, Chainalysis raised an additional $6 million to close its $36 million Series B round in April, with a strategic investment from Japan's largest financial institution, MUFG, and venture capital firm Sozo Ventures.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Bitcoin (BTC) $10,241.00 (-1.14%)
  • Ethereum (ETH) $198.72 (+2.20%)
  • XRP (XRP) $0.266900 (+1.52%)
  • Bitcoin Cash (BCH) $308.99 (+0.31%)
  • Litecoin (LTC) $73.00 (+2.20%)
  • Bitcoin (BTC) $10,241.00 (-1.14%)
Sep 17, 2019 (Tuesday)
Crypto Technicals: Ethereum pauses shy of $200 mark, set to extend bullish momentum
Harbor tokenizes iCap Equity’s $100M real estate funds using ethereum blockchain
Crypto Technicals: BCH/USD fails to extends weakness below 200-DMA, retrace above will see upside resumption
Women in Leadership: Publicis Sapient hires Merril Lynch veteran Priya Bajoria as SVP Financial Services
Crypto Technicals: IOT /USD forms successive Dojis at cloud resistance, dents scope for upside continuation
Crypto payment services BitPay to roll out Ethereum support in the coming weeks
Blockchain food provenance platform OpenSC secures $4M in seed funding
Australia's REIQ partners with Igloo to develop blockchain-based tenancy agreements
Crypto exchange OKEx Korea to remove all privacy coins, including monero, dash, zcash, over FATF's 'travel rule'
Aventus unveils new ticketing protocol Aventus Classic and $15K prize for blockchain developers
C4IR UAE, World Economic Forum introduce blockchain accelerator program at Dubai's Area 2071
Sep 16, 2019 (Monday)
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
HTC’s blockchain smartphone Exodus 1 adds support for Bitcoin Cash
Crypto Technicals: DASH/USD capped below 50-DMA, 'Bullish Divergence' keeps scope for upside
Crypto Technicals: LTC/USD breaks above 21-EMA, scope for further gains
ConsenSys enters decentralized finance ecosystem with new product suite ‘Codefi’
Kaleido Blockchain integrates QEDIT Zero-Knowledge Proof Enterprise Privacy Solution
Crypto Technicals: ETH/USD extends 21-EMA breakout, pauses shy of 55-EMA, bias bullish
Canada-based Bull Bitcoin latest to join Blockstream’s Liquid Network
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.