KYC and AML for Virtual Currency: Startup Regulatory Compliance Solutions
Virtual currency is the future. You know that or you wouldn’t be in the business. And like many hot industries that are the future, virtual currency has been visited by the present — regulation. As a virtual currency company, you need to be completely compliant with the current slate of AML and sanctions screening regulations in order to grow your business and stay away from fines. And, of course, there’s the risk of new online customers. IdentityMind can help with superior KYC and AML solutions.
IdentityMind is a risk and compliance platform that lets you see who’s on the other end of the transaction. We have helped many of the top virtual currency companies automate their compliance and reduce their fraud losses. We can help you identify the good guys you want to do business with and the bad guys you want to avoid. And, we enable you to modify your risk process on the fly, adding in additional checks where merited so you can show the good guys the fast lane and the bad guys the exits. Use the IdentityMind KYC and AML solutions platform as your main fraud and compliance system, or use the IdentityLink API to layer our capabilities on your existing platform.
Get Started Fast
Our standards-based platform and knowledgable team can get can get you integrated and up and running, and processing payments as soon as possible.
Prevent Fraud with Advanced Protection
Our eDNA™ technology, through machine learning, builds digital identities and analyzes them to provide a more accurate picture of risk, enabling better customer selection and fewer rejections of good customers. Our algorithms provide reputations for each entity tailored for the industry in which you do business.
Keep Operation Costs Down
We automate risk and compliance processes so that you don’t need an army to handle your high volumes. When you do need to escalate to a manual review, we’ll alert your team and create a case so that your analysts can handle it.
IdentityMind provides and integrated solution to achieve KYC, Transaction Monitoring for Anti-Money Laundering, Sanctions Screening and PCI Compliance
Leading Solution Without Breaking the Bank
We’ll work with you to find a starting payment plan that fits your business, even if you’re just starting out.
- Identity creation
- Identity validation
- Real time risk scoring through machine learning
- Access to ldentityMind network of over 200 million identities
- Global identity validation
- Risk scoring through machine learning
- Automated, continuous transaction monitoring
- Rules, alerts, cases
- Queue management
- Built-In SAR filing
- Social network, deep and dark web data
- Document upload, verification
- Customer white list
- Customer black list
- Transaction monitoring
- 20+ data services, one API
… and more
- Configurable account dashboard for viewing reports, individual interactions and more
- Compliance reports
- Queue management
The Network Effect
IdentityMind is the most powerful customer reputation source for Virtual Currency companies around the world.
One solution for Payments, and Risk+ Compliance (KYC, Transaction Monitoring, Fraud Prevention, Sanctions and PEP screening).
Expand safely as your business demands it. We worry about data storage, global coverage, performance, AML regulations, and the most flexible pricing model.
One integration gets you access to 20 partners for customer and business verification, document verification, device fingerprinting, and more.
White Paper: 10 Essential Terms for Bitcoin Compliance
This white paper is intended to provide cryptocurrency companies, and the bitcoin industry in general, with an introduction to the essential terms, practices, and regulations every company should know. This document includes an introduction to money laundering, The Bank Secrecy Act, and The Four Pillars of AML.
This blog post was originally posted on December 5, 2018, and updated extensively on 3/27/2019. US Exchanges Banned from Interacting with Specific Bitcoin Addresses The US Government has been monitoring cryptocurrencies for several years. In March 2013, FinCEN’s...read more
"The partnership between Binance and IdentityMind further strengthens our compliance capabilities and our commitment to re-invest in the blockchain ecosystem and grow it, said Samuel Lim, Chief Compliance Officer of Binance. We continue to evolve and enhance security...read more