AML checks from CrystalBlockchain

Dear friends!

Meet the update as well as our new partners CrystalBlockchain

We have integrated AML checks from CrystalBlockchain that analyse both incoming and outgoing cryptocurrency payments. This measure aims to ensure that all transactions comply with European Union legislation.

Why check out cryptocurrency?

Cryptocurrency that has been obtained from individuals or through unregulated sources should be verified to avoid unpleasant situations. The whole point is that it may have been previously involved in financial frauds or on the black market. For example, coins stolen in exchange hacks are recorded as black coins.

The blockchain stores information about each coin, starting from the moment of creation. So if you send dirty coins, the AML system identifies it as suspicious, you may have a problem. You will need to prove that you are not involved in financial fraud. Your account will be blocked for this time. Therefore, it is important to verify cryptocurrency to keep yourself safe and protect your money.

The service was launched by Bitfury, a well-known provider of decentralised solutions. It is a blockchain browser with the ability to verify suspicious transactions. The platform performs a full range of AML operations: clustering, visualisation, tracking, risk assessment, and interaction.

Crystal Blockchain to verify cryptocurrency

Crystal Blockchain is designed to verify suspicious crypto transactions. It is used by companies that want to determine the purity of coins. Crystal also helps investigate cryptocurrency-related crimes by tracking down addresses and organisations through which dirty coins have passed.

Now our clients will be protected from various fraudulent schemes related to cryptocurrency.

Sincerely, BoxExchanger team!