Spectrami Joins Hands with CipherTrace to Offer Cryptocurrency Intelligence Solutions
This partnership protects regional banks and other financial institutions from virtual asset laundering risks, illicit money service businesses, and crypto-related threats
DUBAI, United Arab Emirates, Dec. 15, 2020 /PRNewswire-PRWeb/ — Spectrami, the region’s primary cyber security value-added distributor has joined hands with CipherTrace, a leading cryptocurrency intelligence company, to access CipherTrace’s cryptocurrency intelligence solutions for anti-money laundering, financial investigations, and virtual asset risk mitigations for banks and other financial institutions throughout the Middle East, North Africa and Turkey.
The partnership with CipherTrace will allow the company to expand its product portfolio to include blockchain analysis, cryptocurrency investigation, and AML tools such as CipherTrace Armada™ and CipherTrace Inspector™. Powered by the world’s leading cryptocurrency intelligence and blockchain analytics, CipherTrace Armada delivers deep insights into a bank’s money laundering risks from virtual asset service providers (VASPs). Armada supports banks and financial institutions in achieving AML compliance by providing critical visibility into risky cryptocurrency blind spots so know your customer (KYC) processes can detect and perform due diligence on virtual asset service providers (VASPs). The CipherTrace Inspector financial investigations solution can be used to further identify risky attributes of crypto addresses and wallets.
Commenting on the partnership, the CEO for Spectrami, Anand Choudha said, “With the growth in digital transactions and the increased use of cryptocurrency, there is also an increase in fraud. This is where CipherTrace helps banks, exchange houses, digital payment platforms and other financial companies to protect their customer’s transactions and also provide visibility and security so that they are free from the risks.”
Spectrami is one of the fastest growing cyber security value-added distributors in the region with a focus on providing advanced security products and solutions across the Middle East. The distributor has a strong network of channel partners spread all across the region, and it works closely with partners and their customers to offer them innovative and the most advanced cyber security solutions.
CipherTrace CEO Dave Jevans remarked, “As cryptocurrencies become increasingly accessible, more bad actors are using bitcoin and other virtual assets to launder money, commit fraud, and deploy in ransomware and phishing attacks. It is paramount for banks and other financial institutions to gain visibility into their payment networks to ensure they are complying with all AML and CTF regulations. We are pleased to be able to support Spectrami, one of the most highly-reputed cybersecurity providers in the Middle East region, with the tools their clients need to identify suspicious transactions and achieve compliance.”
Spectrami is a pan-EMEA value-added distributor with local presence across Middle East, North Africa and parts of Europe. With headquarters in the UAE, the company boasts an extensive network of worldwide channel partners. Specializing in end-to-end solutions across information security, infrastructure management and intelligent automation, the global distributor assists enterprises to meet regulatory standards on their infrastructure, protect confidential data assets and applications.
With proficiency across sales, marketing, logistics and management, Spectrami’s unique strengths include excellent resources, effective on-ground support and a highly qualified team to identify optimal sales channels and marketing strategies for a product line. Through thriving partnerships with its 500 plus resellers and systems integrators across more than 40 countries in the EMEA market, the value-added distributor ensures a cohesive business model to cater to evolving customer demands across the globe. For more information, visit http://www.spectrami.com.
CipherTrace, leading 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 defending against illicit finance. Deep expertise in cybersecurity, eCrime, payments, banking, encryption, and virtual currencies form the foundation for CipherTrace’s commercial offerings. For more information, visit http://www.CipherTrace.com or follow us on Twitter @CipherTrace.
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