CipherTrace reveals Crypto Risk Intelligence service for banks and FI
The product includes detection of unregistered cryptocurrency money service businesses (MSBs), risk evaluation of cryptocurrency companies for bank relationships, attribution of cryptocurrency-related transactions, counter-party risk scoring, and a chronology of all known cryptocurrency threats within payment networks.
CipherTrace monitors over 500 cryptocurrency companies and provides risk scores, compliance scores, and AML filtering data for financial institutions, Business Wire reports. The company’s CipherTrace Crypto Risk Intelligence offers banks a four-pillared solution:
- Reveal unknown risks created by connections between VASPs and bank payment systems;
- Risk score over 500 crypto exchanges and other VASPs;
- Identify unregistered MSBs & P2P schemes using bank accounts;
- Identify Dark Web risks and stolen financial products for sale that use cryptocurrencies for laundering funds.
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