This collaboration follows the European Banking Authority's (EBA) release of updated guidelines in July concerning the 'travel rule,' which aims to support the fight against money laundering and terrorist financing in crypto transactions. The EBA's guidelines detail the required information for fund transfers and crypto assets and outline procedures for payment and crypto-asset service providers to handle incomplete or missing information. The aim is to create a standardised approach across the EU to trace transactions effectively, thereby aiding authorities in preventing and investigating financial crimes.
Notabene’s SafeTransact platform provides a comprehensive view of crypto transactions, allowing users to automate real-time decision-making, perform sanctions screening, identify self-hosted wallets, and adhere to global Travel Rule requirements. The platform offers insights from transaction data and customisable rule engines to assist users in meeting their compliance needs.
In the company press release, officials from AMLYZE talked about their partnership with Notabene and the synergy between Notabene's crypto payment monitoring technology and AMLYZE’s expertise in anti-money laundering and counter-terrorist financing. This collaboration aims to help financial institutions and Crypto Asset Service Providers (CASPs) maintain effective compliance and guard against financial threats.
According to the official press release, Notabene’s platform connects with over 1,200 CASPs, helping users identify the entities and jurisdictions behind crypto addresses and ensure transaction compliance, including with self-hosted wallets. This integration complements AMLYZE’s offerings, which include real-time and retrospective transaction monitoring, customer risk assessments, AML/CFT investigations, and screening for politically exposed persons (PEP), sanctions, and adverse media.
Notabene officials also talked about this new partnership and highlighted AMLYZE’s regulatory compliance expertise as well as the capabilities of the SafeTransact platform. They further expressed their belief that the two companies can offer an integrated toolset to tackle the specific challenges of both crypto and fiat markets, enhancing security and compliance.
AMLYZE provides a suite of anti-financial crime solutions as a Software-as-a-Service (SaaS) offering for financial services providers. Their solutions include real-time and retrospective transaction monitoring, customer risk assessment, AML/CFT investigations, and screening for PEP, sanctions, and adverse media. Founded by former regulators and AML/CFT experts, AMLYZE operates from Vilnius, Lithuania, and began offering its core product in autumn 2022.
As for Notabene, it offers a compliance solution that connects users with top counterparties to fully comply with FATF's Travel Rule. The SafeTransact platform provides a secure view of crypto transactions, enabling real-time compliance with the Travel Rule, self-hosted wallet requirements, sanctions screening, and AML rules.
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