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Chainalysis Teams Up With Deloitte To Surveil the Blockchain and Help Governments Fight Crime

Chainalysis Teams Up With Deloitte To Surveil the Blockchain and Help Governments Fight Crime

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Source: Daily Hodle

Blockchain data platform Chainalysis and accounting giant Deloitte are announcing a new partnership to help governments with blockchain surveillance.

The partnership, announced during the Chainalysis Trace DC event, targets government agencies facing hurdles in fighting crypto-related crimes.

“Chainalysis will work with Deloitte’s blockchain and digital assets practice across cryptocurrency and digital asset risk, analytics, investigation, anti-money laundering/know your customer (AML/KYC), and regulatory compliance.”

According to Deloitte, cryptocurrencies obfuscate transactions and launder the proceeds of crimes. The difficulty in obtaining information from foreign exchanges, inconsistent policies across government agencies and the continuously evolving ecosystem of digital assets also complicate law enforcement. The firm says the partnership aims to address these challenges.

“We investigate obfuscation techniques like chain-hopping, mixers, and the use of decentralized finance (DeFi). We investigate the illicit use of non-fungible tokens (NFTs), tokens, and stablecoins. We follow the money from fiat to crypto (and vice versa).”

The team-up will see Chainalysis’ blockchain dataset, analytics software and training program merge with Deloitte’s risk, compliance and investigation services. Says Chainalysis President and Chief Revenue Officer Thomas Stanley,

“For law enforcement agencies, regulators, and financial ecosystem players across the nation, the alliance offers new, collaborative solutions that help identify transformation gaps, accelerate mission success at enterprise scale, and mitigate risk while increasing revenue.”

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The post Chainalysis Teams Up With Deloitte To Surveil the Blockchain and Help Governments Fight Crime appeared first on The Daily Hodl.

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Author: Rhodilee Jean Dolor