{"id":87581,"date":"2023-11-22T14:13:37","date_gmt":"2023-11-22T19:13:37","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/chainalysis-and-kpmg-to-tackle-crypto-fraud-in-canada\/"},"modified":"2023-11-22T14:13:39","modified_gmt":"2023-11-22T19:13:39","slug":"chainalysis-and-kpmg-to-tackle-crypto-fraud-in-canada","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=87581","title":{"rendered":"Chainalysis and KPMG to Tackle Crypto Fraud In Canada"},"content":{"rendered":"<div>\n<figure id=\"attachment_135316\" aria-describedby=\"caption-attachment-135316\" style=\"width: 1280px\" class=\"wp-caption aligncenter\"><noscript><\/noscript><figcaption id=\"caption-attachment-135316\" class=\"wp-caption-text\">Source: Pixabay<\/figcaption><\/figure>\n<p>Accounting firm KPMG\u2019s Canadian unit is joining forces with blockchain data platform Chainalysis to assist companies in battling crypto fraud.<\/p>\n<p>As part of the collaboration, KPMG will join Chainalysis\u2019 \u201cSolution Provider\u201d program. The program provides \u201crigorous monitoring, support, governance and risk management to crypto exchanges, financial institutions, law enforcement and government agencies,\u201d as outlined in an official statement.<\/p>\n<p>After finishing the program, KPMG professionals will receive certification as \u201cChainalysis Certified Investigators.\u201d This initiative is crafted to empower them to aid clients in identifying and preventing illicit activities involving cryptocurrency, stay in compliance with evolving crypto regulations, and fortify existing anti-money laundering compliance measures.<\/p>\n<p>\u201cCrypto asset exchanges, crypto-native companies, financial institutions, government and law enforcement agencies are increasingly looking for innovative ways to help them \u2018follow the crypto\u2019 to investigate criminal activity,\u201d Enzo Carlucci, forensic leader at KPMG in Canada, said.<\/p>\n<p>\u201cBy teaming up with Chainalysis, KPMG clients can benefit from Chainalysis\u2019 proprietary blockchain data monitoring technology, resulting in improved identification of potentially criminal activities and faster response times.\u201d<\/p>\n<p>KPMG\u2019s move comes at a time of increased exploitation in crypto, with various companies falling victim to frauds and scams. Last year, the volume of global illicit cryptocurrency transactions reached a record high of $20.6 billion, as reported in Chainalysis\u2019 2023 Crypto Crime Report.<\/p>\n<p>Just today, crypto exchange HTX and blockchain protocol Heco Chain confirmed that they had been hacked, resulting in a combined loss of $97 million across various tokens.<\/p>\n<p>A fortnight ago, on-chain investigator ScamSniffer revealed that hackers had successfully pilfered over $60 million in cryptocurrency within six months from Ethereum wallets utilizing the Create2 code. According to ScamSniffer, the hackers exploited Create2\u2019s ability to pre-calculate contract addresses, enabling them to generate new addresses for each malicious signature.<\/p>\n<p>\u201cBy teaming up with one of Canada\u2019s largest professional services firms, our clients can leverage the expertise of KPMG\u2019s trusted forensics and crypto asset advisory professionals to establish effective know your transaction (KYT) rules, stronger anti-money laundering protocols and robust investigation strategies,\u201d Chainalysis co-founder and Chief Strategy Officer Jonathan Levin said.<\/p>\n<p>\u00a0<\/p>\n<div class=\"newsletter home-newsletter single\">\n<div class=\"left-side\">\n<p>\n        <em><br \/>\n            Enter your email for our Free Daily Newsletter        <\/em>\n    <\/p>\n<p> A quick 3min read about today&#8217;s crypto news!<\/p>\n<p>    <span class=\"response-msg\" id=\"newsletter-response\"><\/span>\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/chainalysis-and-kpmg-unveil-joint-initiative-to-tackle-crypto-fraud-in-canada.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: Pixabay Accounting firm KPMG\u2019s Canadian unit is joining forces with blockchain data platform Chainalysis to assist companies in battling crypto fraud. As part of the collaboration, KPMG will join Chainalysis\u2019 \u201cSolution Provider\u201d program. The program provides \u201crigorous monitoring, support, governance and risk management to crypto exchanges, financial institutions, law enforcement and government agencies,\u201d as [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":87582,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-87581","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Chainalysis and KPMG to Tackle Crypto Fraud In Canada | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Source: Pixabay Accounting firm KPMG\u2019s Canadian unit is joining forces with blockchain data platform Chainalysis to assist companies in battling crypto\" \/>\n<meta name=\"robots\" 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