RATE Group | CipherTrace Launches Crypto Risk Intelligence Products for Banks
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CipherTrace Launches Crypto Risk Intelligence Products for Banks

16 Dec CipherTrace Launches Crypto Risk Intelligence Products for Banks

Posted at 17:17h in Cryptocurrency News by

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MENLO PARK, Calif.–(BUSINESS WIRE)–Dec 16, 2019–

CipherTrace, the global leader in cryptocurrency intelligence, today announced the launch of CipherTrace Crypto Risk Intelligence, its comprehensive cryptocurrency risk threat detection and proactive risk management service for banks and financial institutions. Key features of the product include detection of unregistered cryptocurrency money service businesses (MSBs), risk evaluation of cryptocurrency companies for bank relationships, attribution of cryptocurrency-related transactions, counter-party risk scoring, and a chronology of all known cryptocurrency threats within payment networks.

Research by CipherTrace Labs found that every one of the top 10 U.S. retail banks currently have unregistered cryptocurrency MSBs—including crypto exchanges—transmitting funds on their payment networks. Analysis revealed that a typical large bank is processing as much as $2 billion a year in undetected cryptocurrency-related transfers, posing…

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