Comoros Embraces Blockchain Technology to Boost Anti-Money Laundering Efforts
The island nation of Comoros is taking proactive steps to combat financial crime by leveraging blockchain-based anti-money laundering (AML) solutions. With the rapid growth of cryptocurrency payments, exceeding $3 trillion in 2021, Comoros recognizes the need for robust AML measures to prevent illicit activities.
Challenges in Anti-Money Laundering Efforts
Comoros’ AML teams face a complex task: identifying and reporting suspicious transactions while ensuring a seamless customer experience. To stay ahead of evolving regulations, they require a cutting-edge solution that integrates cryptocurrency intelligence data from industry-leading providers.
Alessa’s Comprehensive AML Compliance Platform
Alessa offers Comoros a world-class partnership by providing a comprehensive AML compliance platform. By integrating with top data providers, Alessa enables the identification, monitoring, and reporting of suspicious activity related to virtual asset transactions.
Key Features of Alessa:
- Daily Client Risk Update: Highlights clients whose risk scores have surpassed Comoros’ organization-wide threshold in the last 24 hours, providing real-time insight into potential threats.
- Real-Time Screening: Ensures receivers and senders are not sanctioned or high-risk entities, maintaining a secure and trustworthy financial environment.
Expert Assistance and Support
Alessa offers ongoing expert assistance from risk experts, account managers, and a dedicated support team to help Comoros strengthen and streamline its AML efforts.
Benefits of Partnering with Alessa:
- Conduct identity verification and cryptocurrency Know Your Customer (KYC) processes
- Track accounts associated with peer-to-peer exchanges and virtual currency kiosks
- Cross-reference contact information of small Virtual Asset Service Providers (VASPs)
- Flag suspicious activities
Learn More About Alessa’s AML Solutions
A complimentary demo is available to learn more about how Alessa can help Comoros stay compliant with evolving crypto regulations. By embracing blockchain technology and partnering with industry experts, Comoros can enhance its AML efforts and maintain a secure financial environment for its citizens.