Chainalysis Launches Real-Time Alerts About Suspicious Transactions

August 25, 2019 12:57 AM UTC

Chainalysis is a platform made to prevent, detect and investigate cryptocurrency fraud like money laundering and compliance violations. Chainalysis was mainly built for Financial Institutions, Cryptocurrency exchanges and Government. They help these institutions to meet AML and KYC compliance obligations. The company  is now launching a new product called KYT.

KYT (Know Your Transactions) in reference to KYC is a real-time alert system that detects high-risk activity like terrorist financing, illicit activity, stolen funds, scams, etc.

Chainalysis claims to solve the issue with false positives because they only label addresses when they are absolutely 100% sure the address is controlled by the named entity. Additionally, the KYT system uses AI and machine learning to optimize the system even further.

The system is available for 15 different cryptocurrencies and it is build directly into the user interface and API. Additionally, a team will help adjust the alert rules to meet the client’s needs as well helping them identify and choose the thresholds that make sense for their specific business.

Every minute counts when managing exposure to sanctioned entities, hacked funds, darknet markets, and other illicit activities, which is why Chainalysis is investing in fast, actionable alerts to help our customers mitigate risk across cryptocurrencies.

said John Dempsey, VP Product, Chainalysis


Follow us on
Daily updates

    Leave a Reply

    Your email address will not be published.

    five × 3 =