Polycoin has launched a blockchain-based tool designed to help compliance proffessionals ensure compliance with anti-money laundering (AML) and know your customer (KYC) requirements by tracking and verifying financial transactions with the blockchain. > The new tool, called KYC (Know Your Customer) is being developed in partnership with FinTech company Blockchain Capital and will be available for use on its own or as part of an integrated The blockchain platform can help compliance staff get around issues of anonymity, as the system can identify the parties involved in transactions, without necessarily revealing their anonymity; transactions are ranked by the system in terms of suspiciousness, and the system then alerts a compliance officer to investigate transactions that exceed an assigned suspicion level.
Polycoin has launched a blockchain-based tool designed to help compliance proffessionals ensure compliance with anti-money laundering (AML) and know your customer (KYC) requirements by tracking and verifying financial transactions with the blockchain. The new tool, called KYC (Know Your Customer) is being developed in partnership with FinTech company Blockchain Capital and will be available for use on its own or as part of an integrated The blockchain platform can help compliance staff get around issues of anonymity, as the system can identify the parties involved in transactions, without necessarily revealing their anonymity; transactions are ranked by the system in terms of suspiciousness, and the system then alerts a compliance officer to investigate transactions that exceed an assigned suspicion level.