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IdentityMind Global, CipherTrace partnership provides virtual currency risk assessment

GRC Announcements | October 12, 2018

IdentityMind Global recently announced that IdentityMind’s compliance, risk management, and fraud prevention platform has integrated CipherTrace’s digital currency risk assessment technology. This integrated solution allows virtual currency exchanges, ICOs, hedge funds, financial institutions, and any company that accepts cryptocurrency to understand the risk they present.

The combined IdentityMind and CipherTrace solution provides a complete anti-money laundering analysis tool for cryptocurrency—assessing the risk of the wallet and addresses involved in a transaction, providing a risk score, ensuring both sides of a transaction are not connected, and creating alerts when predefined dollar limits are reached. Moreover, if there is suspicious activity, the IdentityMind platform can pre-populate a suspicious activity report.

The new combined virtual currency risk assessment enables IdentityMind clients to know the source of funds for virtual currencies and provides the...

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