Catallaxy to Power Cyber Auditing and Forensics Tools with CipherTrace’s Best-in-Class Blockchain Analytics Data
Subsidiary of accounting firm Raymond Chabot Grant Thornton partners with CipherTrace to incorporate its cryptocurrency attribution data into advanced auditing and forensics tools
MENLO PARK, CALIF. (PRWEB) JUNE 11, 2020
Catallaxy, a subsidiary of accounting firm Raymond Chabot Grant Thornton, partners with CipherTrace, the industry-leading cryptocurrencyA cryptocurrency (or crypto currency) is a digital asset des... More intelligence company, to enhance its cyber crime tracking capabilities. While most accounting firms have developed internal tools for blockchainA blockchain is a shared digital ledger, or a continually up... More audit, Catallaxy’s solution is the first to ingest attributionAttribution is the process of attributing otherwise unhelpfu... More data directly from a blockchain analysis firm.
“Our synergistic partnership with CipherTrace is poised to produce the most powerful blockchain auditing and forensics tools in the market,” said Michel Besner, Managing Director at Catallaxy. “Our collaboration will ultimately allow us to better addressIn a cryptocurrency context, an address is a cryptographic k... More growing cyber threats and compliance risks posed by illicit cryptocurrency and cross-border transactions.”
The joint Catallaxy / CipherTrace solution will enable investigators and auditors to attribute transactions to high-risk blockchain entities and international virtual assetThe term "virtual asset" refers to any digital representatio... More service providers. It will also empower investigators to identify illicit cryptocurrency from dark markets, ransomwareA type of malicious program that is designed to encrypt a sy... More, thefts, frauds, and offshore sources.
“Investigators working for financial market authorities and various police enforcement groups require tools that cross the bridge between blockchain ledgers and other relevant content out there in order to find proofs of illicit or criminalA Criminal is an individual or group who has been convicted ... More activities,” said Michel Besner. “We believe the forensics experts and best-of-breed blockchain intelligence provided by CipherTrace to be a core component of delivering a solution that meets the most demanding requirements of investigative work out there.”
“With coverage for the widest range of tokens and the world’s best blockchain analytics, CipherTrace tools offer the industry’s most comprehensive way to trace transaction flows and comply with regulatory anti-money laundering requirements,” said Dave Jevans, CEO of CipherTrace. “We are excited to see Catallaxy select us as a trusted partner and to collaborate with them in developing advanced auditing and forensics tools.”
“This new relationship, which combines leading experts in cryptocurrency, blockchain and auditing, creates the next level of innovation in bringing investigative tools to the market,” added Stephen Ryan, COO of CipherTrace.
This partnership will provide a solution for professionals to evaluate risk-based controls, monitor ongoing performance, and lookback to assess the past effectiveness of money laundering controls.
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CipherTrace, the cryptocurrency intelligence company, protects financial institutions from crypto laundering risk and is helping to grow the crypto economy by making virtual assets trusted by governments and safe for mass adoption. CipherTrace delivers the world’s most comprehensive cryptocurrency intelligence to detect money laundering, inform law enforcement investigations, and enable regulatory supervision. CipherTrace founders are dedicated to protecting consumer privacy, while enabling protection. Created to develop digital currency and blockchain tracing and security, CipherTrace has visibility into 87% of global trading volume with hundreds of millions of attribution data points and traces more than 800 virtual assets, including BTC, BCH, ETH, ERC-20Tokens are a subset of Distributed Ledger Technology (DLT) L... More, Tether, and LTC tokens. The company was founded in 2015 by experienced Silicon Valley entrepreneurs with deep expertise in cybersecurity, eCrime, payments, banking, encryption, and virtual currencies. The US Department of Homeland Security Science and Technology (S&T) and DARPA initially funded CipherTrace, followed by leading venture capital firms.
For more information, visit http://www.CipherTrace.com or follow us on Twitter @CipherTrace.
Catallaxy, a subsidiary of Raymond Chabot Grant Thornton, develops data authentication, auditing and forensics tools and servicesGeneral services, including non-profits, forums and news sit... More. We have a group of experts in cryptographic data analysis, blockchain, tokenization, and artificial intelligence to develop targeted products and services that can help build trust in a digital economy.
Learn more at https://catallaxy.rcgt.com.