As reported by India Today, we’ve successfully returned the majority of stolen Ethereum from a scam started on LinkedIn. The fraudulent investment scheme pulled just enough information from an Indian businessman to access the victim’s seed phrase. Our investigation team partnered with local cyber crime enforcement to track the stolen assets through multiple wallets and Defi bridges. According to the Consumer Sentinel Network’s Data Book 2023, a report from the Federal Trade Commission (FTC), cryptocurrency was the second-highest reported financial loss for American consumers in 2023. Consumer ..read more

Eliminating every risk is impossible, especially in an industry like cryptocurrency, but developing a robust customer due diligence (CDD) process is the best way to protect your company's interests. In many countries, CDD isn't a matter of choice. It's a requirement that cryptocurrency exchanges, platforms, and other businesses have to follow to comply with anti-money laundering (AML) regulations. CDD involves assessing risks associated with clients, verifying their identities, and continuously monitoring activity on the blockchain. In combination, these steps help reduce the odds that crypto ..read more

Welcome to AMLBot Stream Podcast Episode 2! Today’s topic is the Pig Butchering Crypto Scam, Graeme Hampton, (Anti Money Laundering Advisor at AMLbot and Co-Chair with the International Association for Trusted Blockchain Applications) podcast host, speaks on this rising deception scam targeting unsuspecting victims. You can listen or subscribe now on Apple Podcast,Spotify, Audible or Youtube. Continue reading for a comprehensive preview of episode 01. In this video, listeners will delve into this scam typology, understanding how scammers assist victims in setting up walle ..read more

Welcome to AMLBot Stream Podcast Episode 1! One of the most asked questions we receive from our clients at AMLBot is, "What are the best ways to mitigate high-risk to keep us safe?" Today, Graeme Hampton, (Anti Money Laundering Advisor at AMLbot and Co-Chair with the International Association for Trusted Blockchain Applications) podcast host speaks with the objective to understand Risk Assessment, with a specific focus on high-risk. You can listen or subscribe now on Apple Podcast, Spotify, Audible or Youtube. Continue reading for a comprehensive preview of episode 01. To address this questi ..read more

To conduct a thorough blockchain investigation and meet regulatory requirements, you need fast and easy access to quality data. We’re proud to present AMLBot Intelligence, a new cutting-edge tool that meets those needs.  While it can offer benefits to a wide range of users, AMLBot Intelligence was designed with investigators and compliance teams in mind. It focuses on effective transaction monitoring and crypto intelligence, covering all the bases when it comes to cryptocurrency data. To get you better acquainted with this new tool, we’ll walk you through its key functions, features, an ..read more

Anti-money laundering (AML) compliance should be a top concern if you're a crypto investor. However, many crypto users know very little — if anything — about what an AML governance regulation is and what it means in the industry. Anti-money laundering (AML) compliance should be a top concern if you're a crypto investor one billion in 2024. With so many people buying, selling, and trading cryptocurrencies, it's never been more important to understand the connection between crypto projects and criminal activity. Keep reading to learn why anti-money laundering compliance is so essential and what ..read more

The report is focused on comparing the two most popular stablecoins by market share - USDT issued by Tether and USDC issued by Circle - in terms of the magnitude of illicit activity associated with both stablecoins. USDT, known for its wide usage across various blockchain platforms, particularly the Tron network, has been scrutinized for its higher involvement in transactions linked to illicit activities.  Conversely, USDC, with its strong commitment to regulatory compliance and security measures, showcases a notably lower risk profile. This focused examination highlights the critical ne ..read more

Automated KYC is one of today's biggest crypto security trends, and for good reason. By switching from manual to automatic know-your-customer (KYC) checks, companies in the cryptocurrency space can achieve better customer outcomes. They can also avoid expensive penalties for violating anti-money laundering (AML) regulations. If the concept of an automated KYC system is new to you, you probably have a lot of questions about how it affects your customers, improves your security, and benefits your cryptocurrency business. This guide will cover all those issues and tell you everything you need to ..read more

AMLBot introduces the Tracking Feature, a convenient solution fulfilling user security and market analytics goals. AMLBot Tracking Feature allows users to protect wallets from dirty crypts, minimize contact with high-risk indicators, and avoid possible sanctions or disciplinary measures for law-abiding users.  The tracking feature can track addresses, monitor funds movement, and notify about any transfers on the blockchain related to the tracked address among the most used blockchains. The list of notifications includes: Blockchain name The tracked address and its label The direction ..read more

In 2023, the AMLBot investigation team detected that individuals failed to comprehend the potential consequences of disregarding basic safety guidelines. Unexpected sanctions exposure challenges can arise, as was the case when a client approached us with concerns about a frozen account linked to suspected sanctions. The Case A client contacted us regarding an issue with the exchange platform that had frozen his account due to a suspected connection to sanctions. This client was doing a fiat-to-stablecoin exchange. He was converting USD 200,000 to USDT when the platform flagged his transaction ..read more