Sumsub and Elliptic team up to fight crypto financial crime

Sumsub integrates Elliptic’s blockchain analytics for enhanced functionality cryptocurrency Wallet screening and risk assessment capabilities for clients

london, November 26, 2024 /PRNewswire/ — Sumsuba full-cycle verification platform, announced an integration with . ovala global leader in crypto asset risk management. This partnership will enhance Sumsub's services. cryptography Transaction monitoring and travel rules solutions provide enhanced screening capabilities to clients around the world cryptocurrency wallet, detection scamevaluate trading risk.

Blockchain-related crimes such as money laundering and money laundering scamconcerns continue to rise. According to The true identity of Sumusab scam report 2024, cryptocurrency were among the top five industries with the highest standards. scam Interest rates for 2024. Recently, the United States The Federal Bureau of Investigation (FBI) has its own cryptocurrency Tokens for defeating criminals. With this in mind, integrating Elliptic's market-leading analytics into Sumsub's platform will enable businesses to provide a comprehensive view of blockchain transactions to protect users and mitigate financial crime. .

This integration will enable clients, including companies in the blockchain, fintech, and payments sectors, to seamlessly connect their existing Elliptic subscriptions to Sumsub's systems via a Bring Your Own Key (BYOK) model. This allows clients to manage and protect their data using their own encryption keys, giving them complete control over their sensitive information while using Sumsub's compliance and monitoring services. Customers can connect existing functionality from Elliptic's platform to Sumsub's platform and integrate workflows. cryptocurrency Screen your wallets in one dashboard. Today, Sumsub clients can ensure alignment with stringent regulatory requirements with Elliptic, which offers the broadest coverage of crypto assets and blockchain available on the market.

The main benefits of integration are:

Automated workflow for screening cryptocurrency Wallets and transactions
Real-time risk assessment powered by Elliptic’s extensive blockchain data
Deeper investigation capabilities that can be accessed directly from the Elliptic dashboard when needed
Seamlessly integrate new and existing clients, eliminating the need for separate workflows or additional systems.

“We are excited to partner with Sumsub to build a stronger shield against financial crime. cryptocurrency industry. As blockchain technology advances, so do the threats it faces, making comprehensive and adaptable tools essential. ” said james smithCo-founder of Elliptic. “By integrating Elliptic's cutting-edge blockchain analytics with Sumsub's trusted verification and compliance platform, we will enable businesses to proactively address risk, protect users, and stay ahead of regulatory demands. Integration is more than just reinforcement. scam It facilitates not only discovery but also transparency and trust in evolving data. cryptocurrency We help businesses navigate complex situations with confidence. ”

“This partnership is cryptocurrency Elliptic is a well-known and major player in the blockchain analytics space, so it is possible to monitor transactions. By integrating that analysis, we can leverage the world's largest ecosystem of virtual asset service providers (VASPs) to continue pushing the boundaries in the fight against financial crime. ” said Ilya BlobinSumsub Chief Growth Officer. “At Sumsub, cryptocurrency sector. By working with Elliptic, we can provide you with powerful tools to streamline compliance, reduce risk, and stay ahead of emerging threats in this space. ”

For more information about Sumsub’s transaction monitoring and KYC/AML compliance products, please visit cryptocurrencyplease take a look https://sumsub.com/cryptocurrency/.

About oval

Elliptic is a global leader in crypto asset risk management. cryptocurrency Businesses, governments, and financial institutions around the world. Recognized as a pioneer in WEF technology and backed by investors including JPMorgan, Wells Fargo Strategic Capital, SBI Group, and Santander InnoVentures, Elliptic assesses the risk of transactions worth trillions of dollars. money laundering, terrorist financing, scamand other financial crimes. Elliptic's headquarters are london has an office in new york, Singaporeand Tokyo.

About Sumsub

Sumsub is a full-cycle validation and continuous monitoring platform that protects the entire user journey. With Sumsub's customizable KYC, KYB, and transaction monitoring, scam With prevention and travel rules solutions, you can adjust your verification processes, onboard more customers around the world, meet compliance requirements, reduce costs, and protect your business.

Sumsub has over 2,500 clients across the fintech industry. cryptocurrencyBitpanda, Wirex, Avis, Bybit, Huobi, Kaizen Gaming, TransferGo and other transport, trade, e-commerce and gaming industries.

source sam sub