Coinfirm AML Platform for crypto assets is aimed at providing adoption of blockchain by monitoring and blacklisting funds from fraudsters
Coinfirm & AJMS Partnership
Remitex Technologies Ltd. (RETL), an AJMS Group Entity, has been in the forefront of introducing solutions developed for the present and future as a homegrown AML solution provider. The danger of end-users being uninformed of the underlying hazards of crypto assets has grown as the crypto asset class has gained broader recognition by the traditional financial system as well as mass appeal in retail.
By integrating Coinfirm’s AML Platform into RETL’s DIGI Comply Tool, the industry-leading crypto AML and analytics provider, has enhanced RETL’s DIGI Comply Tool to incorporate a Risk-based AML/CFT platform for crypto assets. Risk ‘C-score’ research, financial analysis of wallets, and cutting-edge crypto investigation and monitoring tools are just a few of the highlights. The updated edition of DIGI Comply will be a must-have tool for any crypto organization, as the reports will include an in-depth risk score for currencies, wallets, and transactions, warning users to possible ML/TF concerns based on hundreds of indications.
By risk assessing entities, addresses, and transactions, Coinfirm’s AML Platform for crypto assets aims to promote blockchain adoption by monitoring and blacklisting money from ransomware hacks, human trafficking, sanctions evasion, and terrorist funding, among other crimes. Governments, financial institutions, custodians, payment providers, investment funds, and exchanges use Coinfirm’s risk management platform and services. The AML platform, which supports over 5,600 protocols, employs 330 proprietary risk algorithms to deliver a smooth, scalable solution to CeFi and DeFi strict regulatory standards.
Quotes
RETL’s Founder, Abhishek Jajoo, stated in a statement announcing the partnership: “We are excited to partner with Coinfirm to enhance our award-winning, DIGI Comply Solution by including Crypto AML Risk and Compliance. Together, we have introduced a first-of-its-kind solution catering to increased crypto compliance requirements in the marketplace. We are proud to launch the first crypto screening infrastructure in the Middle East, i.e., the DIGI Comply suite of products, which will provide a complete financial compliance solution.”
Mircea Mihaescu, CEO of Coinfirm, added: “We are looking forward to working with RETL and their ecosystem to ensure that they are adequately safeguarded, when exposed to new technology and payment methods. As blockchain and crypto gain greater adoption, by partnering with RETL, we are forging a bridge in the MENA region, which encapsulates all possible threats and provides a one-stop-solution for AML compliance for TradiFi and crypto businesses.”
