CipherTrace added to NICE Actimize's X-Sight Marketplace for due diligence and risk reduction

Monday 20 January 2020 10:53 CET | News

NICE Actimize has revealed that CipherTrace joined the X-Sight Marketplace, the industry’s first financial crime and compliance ecosystem.

The X-Sight Marketplace gateway connects financial services organisations with data, applications, tools, and service providers, all in one place. This allows users to experience the value of choice while reducing integration timelines. Via this agreement, CipherTrace complements NICE Actimize’s AML solutions portfolio, as its cryptocurrency solutions detect money laundering and enable regulatory supervision.

As per Yahoo Finance, the CipherTrace offering identifies crypto transactions going to digital wallets and crypto exchanges that are known to have significant illicit activity or poor client due diligence processes. Thus, by using the company’s offering, cryptocurrency exchanges and wallets will have visibility to criminal activity for which the transactions can be screened, and appropriate actions can be taken.

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Keywords: NICE Actimize, cryptocurrency, CipherTrace, X-Sight Marketplace, due diligence, risks, financial crime, compaliance, gateway, money laundering, digital wallets
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime