KPMG and Chainalysis Partner to Enhance Crypto Fraud Detection and Compliance

KPMG successful Canada and Chainalysis person entered into a strategical concern aimed astatine strengthening efforts against crypto plus fraud. This alliance, marking KPMG’s introduction into the Chainalysis Solution Provider program, is focused connected providing enhanced monitoring and hazard absorption tools for cryptocurrency exchanges, fiscal institutions, and authorities agencies. The announcement connected Wednesday details that the inaugural is simply a effect to the expanding sophistication of crypto-related transgression activities.

Strategic Alliance Formed Between ‘Big Four’ Member KPMG and Chainalysis

KPMG, a multinational nonrecreational services web and 1 of the ‘Big Four’ accounting organizations revealed connected Wednesday that it has partnered with the blockchain surveillance steadfast Chainalysis. KPMG details that the collaboration enables the certification of KPMG professionals arsenic Chainalysis Certified Investigators, aiming to amended their quality to observe and forestall illicit activities successful the crypto sector.

“This collaboration volition assistance to further solidify KPMG’s expertise successful forensic investigations and crypto assets and blockchain technology,” stated Kunal Bhasin, a spouse and crypto and blockchain co-leader astatine KPMG successful Canada.

KPMG details that the collaboration is the archetypal of its benignant for the company, focusing connected blockchain monitoring, support, governance, and hazard management. The concern is intended to assistance organizations successful adhering to fiscal regulations and advancing their anti-money laundering (AML) compliance programs. According to Enzo Carlucci, a nationalist forensic person astatine KPMG, the collaboration aims to supply organizations with the indispensable tools to recognize fraud and fiscal transgression risks.

The nonrecreational services steadfast highlights the latest Chainalysis 2023 Crypto Crime Report which shows cryptocurrency-based illicit transactions reached $20.6 cardinal past year. Additionally, KPMG cites the Ontario Securities Commission Contact Centre and the Canadian Anti-Fraud Centre reports of important increases successful crypto-related complaints and fraud losses implicit the past fewer years.

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