https://finance.yahoo.com/news/acuant-strengthens-anti-money-laundering-110000133.html

LOS ANGELES, May 11, 2021 (GLOBE NEWSWIRE) -- Acuant, the global trusted identity platform for fraud prevention and AML compliance, today announced its partnership with Chainalysis, the blockchain analysis company, to help financial institutions and cryptocurrency businesses assess risk, automate workflows, safeguard against illicit transactions and protect their reputations with superior Anti-Money Laundering (AML) solutions.

Acuant and Chainalysis customers will now be able to leverage both platforms via the Acuant interface to seamlessly manage transactions that are indicative of higher risk. They will have access to Chainalysis Know Your Transactions (KYT) as well as their graphical investigative software, Chainalysis Reactor, which can be used to follow the flow of funds across the blockchain for deeper investigations. The integration of Reactor and KYT strengthens Acuant Compliance native cryptocurrency support with Chainalysis investigative interface.

“We at Chainalysis believe cryptocurrency has the potential to boost the global economy, making a more equitable, fair and accessible financial infrastructure. In order to realize this vision, we need to establish greater trust and transparency,” said Jordan Bregman, Director of Business Development at Chainalysis. “Our partnership with Acuant brings us closer to this goal and we’re excited to see our progress within the next few years.”

Acuant Compliance currently provides comprehensive AML solutions to more than 50 crypto exchanges and blockchain businesses worldwide. Its native support for cryptocurrencies along with integrated Know Your Customer (KYC), transaction monitoring for fraud prevention and suspicious activity detection, sanctions and PEP screening, case management and multijurisdictional regulatory filing protects millions of cryptocurrency transactions worldwide.

“Our partnership with Chainalysis will further augment our support to the cryptocurrency industry. This partnership is bringing together and integrating the top Anti-Money Laundering solutions in the marketplace today,” said Jose Caldera, Chief Product Officer at Acuant. “We look forward to working with Chainalysis to strengthen our platform and to continue to be a leading solutions provider in the crypto space.”

Chainalysis KYT helps financial institutions and cryptocurrency businesses monitor large volumes of cryptocurrency activity and identify high-risk transactions on a continuous basis. The Chainalysis KYT and Acuant integration combines a comprehensive dataset of thousands of services with solutions that make it easy to review both fiat and cryptocurrency transactions, detect suspicious activity, manage investigations, and file suspicious activity reports (SARs). Real time alerts on the highest-risk activity allow compliance teams to focus on the most urgent activity and fulfill regulatory obligations to report suspicious transactions.