Cryptocurrency Companies

Reduce risks with real-time screening and automated monitoring

Crypto companies must have robust AML and fraud prevention processes to verify the identity of every sender and beneficiary and ensure no illegal activities such as money laundering, fraud, or terrorist financing.

To stay in compliance with global AML regulations, crypto assets, wallets, and exchanges are expected to submit suspicious activity reports (SARs). Adding to the pressure, cryptocurrency anonymity and high-risk models have led to enhanced supervision by auditors and banking partners.

Skylight’s AI-driven solution ensures crypto companies comply with regulatory expectations across various jurisdictions by helping them quickly identify risks before becoming threats and protecting their reputations with banks and customers.

Skylight offers an end-to-end solution that effectively addresses the challenges crypto companies face in the following ways:

Advanced AML: Advanced entity resolution capabilities identify money movement patterns and effectively surface alerts on risky patterns, enabling compliance with AML regulations. Flexible workflows and rule creation processes provide nimble monitoring capabilities, and automated regulatory report filing streamlines AML activities.

Behavioral Analysis: Skylight employs behavioral analysis and machine learning algorithms to detect unusual transaction patterns and anomalies, allowing crypto companies to identify potentially fraudulent activities.

Real-Time Monitoring: Skylight’s real-time monitoring capabilities enable crypto companies to track and block transactions as they occur. This feature ensures a swift response to suspicious activities and reduces the risk of financial losses.

Customizable Rules: Skylight offers customizable rule sets tailored to crypto companies’ business needs. This flexibility allows for the swift adaptation to changing regulations and new types of fraudulent activities.

Efficiency Gains: Real-time monitoring and AI tools for automating processes reduce the workload on crypto companies’ compliance teams, allowing them to focus on more complex cases and strategic initiatives.

Learn how to shine a light on illicit consumer behavior today

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