Dash: a partnership with BlockchainIntel to combat money laundering
Dash: a partnership with BlockchainIntel to combat money laundering

Dash: a partnership with BlockchainIntel to combat money laundering

By Marco Cavicchioli - 25 Jul 2019

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Dash has announced a new partnership with BlockchainIntel to improve compliance with regulatory requirements for exchanges. 

Thanks to BlockchainIntel, Dash is now able to meet regulatory requirements in order to create more trust between users and exchanges. 

This partnership will allow the cryptocurrency to be listed on new exchanges and in particular on those that need to provide the authorities with information on their use. 

BlockchainIntel is a provider of transaction monitoring solutions and helps exchanges increase trust among community members and ensure regulatory compliance. 

On the basis of its experience with law enforcement agencies, regulators and financial institutions, BlockchainIntel provides an automated way to identify risks related in particular to money laundering and fraud. It also works with law enforcement agencies around the world, including the FBI, to help identify criminal activities and bad actors. 

The service provided by the company computes a risk score with appropriate indicators for each blockchain address monitored, and provides it via API. 

The score is based on address-related data, including OFAC lists and blockchain activities, such as geographic location, fraud trails, ransomware, gambling, stolen tokens, exchanges and companies. These APIs can be used to monitor large volumes of transactions and identify those at risk in real-time and on a regular basis. BlockchainIntel also provides reports for compliance with KYC and customer due diligence. 

This allows exchanges to equip themselves with an automated system to store the data necessary for any reports of suspicious activities to the authorities. 

Dash Core Group CEO Ryan Taylor said: 

“We are committed to supporting exchange access for our users. We are happy that our partner BlockchainIntel can address new exchange reporting requirements aimed at preventing money laundering and fraud”.

The CEO of BlockchainIntel, Karen Hsu, added: 

“We are excited to work with Dash, exchanges and companies that trade or process payments in digital currencies to help safeguard interactions in their networks. Our goal is to provide people, companies and regulators a way to identify higher risk transactions that leads to increased trust in and continued adoption of digital currencies”.

Marco Cavicchioli

Born in 1975, Marco has been the first to talk about Bitcoin on YouTube in Italy. He founded ilBitcoin.news and the Facebook group" Bitcoin Italia (open and without scam) ".

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