Essentials - AMLBot Blog

Essentials

A collection of 26 posts

What Are Cryptocurrency Investigations and Why Are They Necessary?

What Are Cryptocurrency Investigations and Why Are They Necessary?

Cryptocurrencies have a prominent role to play in the modern financial world, and crypto investigations are the key to keeping them safe and secure. The use of digital assets is increasingly widespread, with the number of crypto users increasing by 60 million in the second half of 2022, and it

How Not to Become a Victim Of Fake Websites – AMLBot's Experience

How Not to Become a Victim Of Fake Websites – AMLBot's Experience

The cryptocurrency industry is known to make it to the news cycles frequently because of negative happenings like hacks and attacks. As a result, several cryptocurrency users face situations where their funds get depleted from their wallets. Unfortunately, it is only in the aftermath of their loss that most realize

How to Get a Crypto License for Your Business: A Complete Guide

How to Get a Crypto License for Your Business: A Complete Guide

In the face of unclear regulations and shifting legislation, obtaining a crypto license may seem daunting. Although there may be challenges involved, applying for a license is a vital step to ensuring that your company complies with national or state requirements, operates legally in your jurisdiction, and earns the loyalty

kak poluchit kriptolicenziyu

Крипто лицензия: для чего нужна и как получить?

В условиях нечетких правил и меняющегося законодательства получение лицензии на криптовалюту может показаться сложной задачей. Несмотря на то, что могут возникнуть проблемы, подача заявки на лицензию является жизненно важным шагом для обеспечения того, чтобы ваша компания соблюдала национальные или государственные требования, работала на законных основаниях в вашей юрисдикции и заслужила

AML And KYC – Key for Crypto Adoption

AML And KYC – Key for Crypto Adoption

Decentralized ledger technology (DLT), more commonly referred to as the blockchain, was first introduced by Bitcoin, making it possible to transact value without the need for intermediaries. Similarly, among several other characteristics, blockchain users transacting cryptocurrencies remain pseudonymous. Identified by wallet addresses that are strings of alphanumeric characters, it can

How Cryptocurrency Is Used In Darknet

How Cryptocurrency Is Used In Darknet

Cryptocurrency is replacing fiat money in several aspects. It was first introduced as a digital currency to replace fiat and aid individuals in peer-to-peer transfers by eliminating centralized entities that hold people's money and oversee their transactions. Crypto users get complete control over their funds and a greater level of

MiCA and the Main Requirements of the New Crypto Regulatory Framework: A Guide for Crypto Businesses

MiCA and the Main Requirements of the New Crypto Regulatory Framework: A Guide for Crypto Businesses

The Markets in Crypto assets regulation (MiCA) was approved by the European Council on October 5, 2022. MiCA regulation will come into force in the middle to the end of 2024, and once it does, it will establish a harmonized framework governing the crypto industry in the European Union. At

How to Open a Bank Account for a Crypto Company

How to Open a Bank Account for a Crypto Company

Setting up a bank account for a crypto company sounds like a simple task, but in reality, it can be time-consuming and complex. As cryptocurrencies have become more mainstream, some banks have begun to extend their services to crypto companies. In contrast, others have steered clear of what they view

Why Do Hackers Attack Crypto?

Why Do Hackers Attack Crypto?

The crypto industry is witnessing several hacks lately to the tune of hundreds of millions of dollars. The untoward events are increasing in frequency with the rise of the industry's popularity. With more sophisticated applications and platforms deployed, hackers are finding ways to capitalize on vulnerabilities. While users are making

FATF Crypto Travel Rule – What Is It?

FATF Crypto Travel Rule – What Is It?

Criminal activity around the world is at an all-time high. Criminal enterprises bring in billions of dollars in revenue each year. Monetary incentives are needed to keep criminals motivated and illegal activities going. Therefore, preventing the flow of crime-related funds and identifying the actors behind the funds are necessary to

How To Identify Whether A Crypto Project Is A Ponzi Scheme

How To Identify Whether A Crypto Project Is A Ponzi Scheme

Cryptocurrency is now a popular investment class, and every investor wants a piece of the action. Their ability to net large profits in short intervals makes them a good proposition for investing funds. However, such profits come with high risks. Therefore, investors with large risk appetites and money to spare

How a Crypto Asset Recovery Service Can Reclaim Your Lost Funds

How a Crypto Asset Recovery Service Can Reclaim Your Lost Funds

When disaster strikes and cybercriminals vanish with your cryptocurrency, having access to a reputable crypto asset recovery service is critical. In the past two years, people have lost more than $1 billion in crypto scams, and many of those victims will never see their funds again. Crypto is an exciting

Why Crypto Forensics and Asset Tracing Are Essential to a Secure Marketplace

Why Crypto Forensics and Asset Tracing Are Essential to a Secure Marketplace

Potential crypto investors who are concerned about risking their funds in an unregulated marketplace should take heart in the advancement of crypto forensics. In recent years, the use of blockchain forensics tools has proven extremely effective at crypto asset recovery. This is a critical step toward establishing a more secure

White Hat Hackers: Who Are They, And Why Do We Need Them?

White Hat Hackers: Who Are They, And Why Do We Need Them?

The ability to bring business online is one of the most crucial benefits of the internet to trade and commerce today. Websites, applications, and software are making life convenient for all. With the massive number of people using the internet for various purposes, a lot of money and data flow

Why Tron Network Transaction Verification Could Save You Millions of Dollars ?

Why Tron Network Transaction Verification Could Save You Millions of Dollars ?

The United States Dollar has been experiencing depreciation for decades, but the year 2020 started a spiraling chain of events that hammered at the global reserve currency’s exchange rate and purchasing power. The coronavirus pandemic launched into motion a global economic paralysis scenario that saw the depreciation of national

AML and CFT Compliance for Crypto Companies

AML and CFT Compliance for Crypto Companies

Cryptocurrency is sometimes regarded as a risky business because of shifts in the market, but the bigger concern may actually be AML and CFT compliance. Regulators around the world have turned their gaze to the power of virtual currencies, and it's imperative for crypto companies to put the necessary measures

KYC- и AML-проверки: для чего они нужны и как их использовать в бизнесе

KYC- и AML-проверки: для чего они нужны и как их использовать в бизнесе

Что такое KYC-процедура и почему ей уделяют так много внимания? Рассказываем, как она сможет уберечь вас от мошенников, сохранив анонимность. KYC- и AML-проверки: для чего нужна верификация личности в криптовалютной сфере. KYC (Know Your Customer) – процедура верификации личности клиента и оценки потенциальных рисков от него. Но зачем она нужна и

What Are AML Audits and Why Do Businesses Need Them?

What Are AML Audits and Why Do Businesses Need Them?

The word audit is enough to strike fear and dread in any manager or business owner. It can inspire nightmarish visions of paperwork and penalties, and it's something many organizations do their best to avoid. An AML audit, however, is actually an excellent way for businesses to bolster their operations

Blockchain Analytics: What It Is and How It Works

Blockchain Analytics: What It Is and How It Works

Blockchain technology has revolutionized financial transactions, creating a more efficient and transparent system that has garnered the attention and support of industries ranging from retail to healthcare. Unfortunately, bad actors have also taken note of the potential of cryptocurrency and have exploited the vulnerabilities of the blockchain for criminal purposes.

Virtual Asset Service Providers: What They Are and Why They Matter

Virtual Asset Service Providers: What They Are and Why They Matter

With new technology comes unfamiliar terminology, not to mention changes in regulations, requirements, and laws. All of these developments can quickly become challenging for businesses to navigate, and the failure to keep up can lead to disastrous results. In the world of blockchain technology, one of the most important and

Most Common Ways You Can Be Scammed

Most Common Ways You Can Be Scammed

The cryptocurrency market is extremely diverse and full of perils. The fact is that its lack of legal frameworks and oversight makes it a lucrative arena for the activities of various scammers. Ponzi schemes, rug-pull tactics, even outright fraud are commonplace. Market participants often feel helpless when encountering such unrestricted

Know Your Transaction (KYT)

Know Your Transaction (KYT)

Transaction laundering, also known as undisclosed aggregation, occurs when a merchant processes illegal transactions on behalf of another business. Front merchants may be in collusion with the violating business or unaware that the transactions are fraudulent. Governments throughout the world have recently started passing Anti-Money Laundering (AML) legislation that specifically

Bitcoin mixers & tumblers

Bitcoin mixers & tumblers

Bitcoin is a decentralized cryptocurrency that users can transfer on a peer-to-peer (P2P) network. Nodes on this network verify transactions through cryptographic means and record them in a public distributed ledger called a blockchain. The Bitcoin blockchain is completely public, meaning a blockchain explorer can show a complete record of

Don’t Believe the Hype: Six Red Flags of Crypto Businesses

Don’t Believe the Hype: Six Red Flags of Crypto Businesses

Do you find a promising crypto project but aren’t sure if it’s a good case or a scam? Check it for 6 points of suspiciousness. Otherwise, you can go from riches to rags. Yes, some scams can cost you a whole fortune, so double-check every potential project!If

What are AML Regulations for Cryptocurrency?

What are AML Regulations for Cryptocurrency?

The role of cryptocurrency exchanges in the global financial system continues to increase. However, the anonymous nature of these transactions poses a risk to financial markets, since they facilitate the movement of funds generated by criminal activity. Most cryptocurrency exchanges now enforce Anti-Money Laundering (AML) regulations for this reason. Investing