https://mp.weixin.qq.com/s/730Ah_tM6LPXvklaJhvUGQ
In recent years, crimes involving virtual currency, such as cybercrime, running away with coins, phishing scams, and dark web transactions, have become commonplace. The encryption and anonymity of virtual currency provide many illegal traders with a technical "place outside the law". In the first half of 2022 alone, the amount of money laundered through virtual currencies worldwide will reach as high as US$2 billion.
It can be seen that in addition to the light of the blockchain ecology, there are many unknown "dark places". Virtual currency has been more and more closely combined with various criminal activities such as money laundering, the number of crimes has increased year by year, and the means of crime have been constantly renovated.
Therefore, compliance is almost an inevitable trend in the cryptocurrency industry. Regulators need data analysis tools to monitor whether the platform is compliant. In order to achieve compliance, digital financial companies such as exchanges and wallet companies need tools to help identify Fraud, Illegal Practices.
01 Why is KYT needed and what problems can it solve?
On the one hand, the characteristics of blockchain such as decentralization, decentralization, openness, autonomy, immutable information and anonymity have brought huge challenges to regulatory authorities.
On the other hand, it is difficult for digital financial companies to conduct due diligence. A large number of digital financial companies cannot quickly identify illegal transactions, assess transaction risks, judge the status of users' counterparty accounts, and help users prevent transactions with suspicious accounts.
The purpose of KYT (Know Your Transactions) is to enable virtual asset service providers such as cryptocurrency exchanges to learn more about their customers' physical identities and their transaction behaviors to detect illegal activities such as money laundering and fraud.
In order to help virtual asset service providers (VASP) monitor transaction risks and implement anti-money laundering compliance procedures, the Beosin KYT virtual asset anti-money laundering compliance and analysis platform, which the Beosin team has served many customers for nearly two years, has been upgraded again with new functions With advantages, as well as a free trial quota, see you again.
02 What are the advantages of the newly upgraded Beosin KYT?
Beosin KYT virtual asset anti-money laundering compliance and analysis platform, relying on billions of address tags (mapping billions of addresses to real-world entities) and black address library for blockchain big data analysis technology and advanced AI technology , the virtual currency tracking and anti-money laundering system created can help virtual asset service providers (VASP) build KYT and continuous risk assessment capabilities.
We can help customers avoid interacting with potential risk addresses (malicious addresses); meet global regulatory requirements; avoid damage to customer funds and reputation; at the same time, identify abnormal behaviors, and Path Tracing intelligently expands suspicious addresses, allowing risks Validation just got easier.
Advantage 1: Perfect risk scoring mechanism
Beosin KYT has a complete risk scoring mechanism. We provide customers with professional and comprehensive risk assessment reports through continuous monitoring of virtual asset transactions, risk penetration assessment of capital flow for each transaction, and advanced abnormal behavior analysis engine. Not only the risk score of the address/transaction is output, but also the details and transaction characteristics of each risky transaction, allowing users to fully grasp the risk situation.
Advantage 2: Industry-leading intelligent behavior analysis capabilities
Beosin KYT has accumulated billions of abnormal address tags, which can map billions of addresses to entities in the real world. Based on the efficient and intelligent analysis engine independently designed by machine learning and deep learning technology, Beosin KYT can detect high-risk transactions at the first time and notify to the user.
Advantage 3: Flexible use of API and Web methods
At the same time, we can provide an easy-to-use operation interface and a professional API integration solution to meet the flexible use needs of enterprises in various business scenarios.
03 Analyze the five major functions of Beosin KYT and become the master behind the scenes in the field of "anti-money laundering"
What are the advantages of the newly upgraded Beosin KYT?
Black address query function - billions of tags, presenting the compliance situation of activities on the chain
Beosin utilizes technologies such as pattern recognition and AI algorithms, and at the same time has accumulated physical tags that can map billions of addresses to the real world, which can identify suspicious activities in digital asset transactions, present the compliance status of activities on the chain, and carry out compliance Situation visualization. Including security attacks, dark web, coin mixers, fraud, extortion, gambling, etc.
Sanctions list screening function - providing a macro perspective of digital asset compliance
Beosin constantly monitors and updates the OFAC Sanctions List, the EU Sanctions List and the UK Sanctions List to ensure the timeliness of our data. At the same time, it provides a macro perspective of digital asset compliance, provides a decision-making basis for the establishment of compliance baselines, and provides timely alarms when risks deviate from the compliance baselines.
Address/transaction risk assessment function - provides the most comprehensive and easy-to-understand risk assessment report.
As a world-leading blockchain security company, Beosin, based on big data and AI technology, traces the source and whereabouts of funds of the designated account, can conduct comprehensive, fast and accurate data analysis, and conduct real-time risk analysis on cryptocurrency transactions through the risk analysis engine Judgment, automatically give risk suggestions, and at the same time conduct a comprehensive assessment of transaction and address risks, locate clear risk points, make addresses and transactions more transparent, and help users make the most sensible compliance decisions.
Address monitoring and alarm function - real-time monitoring, tracking hundreds of risk indicators
In addition, KYT is able to employ analytical methods to monitor trading patterns. Different KYT solutions have different approaches to transaction monitoring. Beosin KYT includes cutting-edge technology. Combined with Beosin Trace's database, the KYT system can check various transaction patterns and track hundreds of risk indicators. Monitor the movements of designated accounts in real time, and know the latest transaction information of the monitored accounts at the first time. In addition to the regular monitoring rules, we provide a security warning and monitoring platform to help customers monitor the abnormal transaction behavior of the address 7*24 hours to avoid the loss of funds and reputation.
Tracking investigation function - help you complete higher-level verification and on-chain investigation screening
We can intelligently display the risk transactions and risk addresses related to an address with one click, trace its detailed fund path, help customers verify the source of risk, and reconstruct the overall risk picture for regulatory review. In addition, we also have experienced technicians in the field of blockchain security to help you complete higher-level verification and on-chain investigation and screening.
04Beosin KYT new upgrade, free trial quota announced
"Beosin KYT virtual asset anti-money laundering compliance and analysis platform", through the analysis of massive transaction information on the chain, to identify transaction and account types, and then use the massive physical address database in the system and machine learning analysis technology to evaluate risky transactions. At present, it has provided services to many customers around the world to make them comply with anti-money laundering regulatory requirements.
Beosin KYT has been online for two years and has provided data, software, services and research to institutions, exchanges, wallet companies, etc. in many countries and regions. If you have anti-money laundering and compliance needs, you are welcome to contact us.
At the same time, in order to give back to the support of blockchain ecological partners, we have prepared 10 free experience quotas for the surprise event at the end of 2022, and invite you to experience our products for free in all aspects. Welcome to provide application information on the official website or send us an email to consult us .
With its strong inclusiveness, fierce competition environment, and effective incentive mechanism, we believe that the Bittensor ecosystem can organically produce high-quality AI products.
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