Accounting giant Deloitte has partnered with blockchain security firm Chainalysis to enhance digital asset tracking and investigations.
In a recent blog post, Chainalysis said the collaboration will allow them to assist their mutual clients in addressing compliance challenges in the digital asset ecosystem.
The alliance will allow Deloitte’s clients to leverage Chainalysis' proprietary blockchain dataset, industry-leading analytics software, and training program, the announcement said.
This will enable them to better manage forensic, investigative, and compliance programs related to digital assets.
“For law enforcement agencies, regulators, and financial ecosystem players across the nation, the alliance offers new, collaborative solutions that help identify transformation gaps, accelerate mission success at enterprise scale, and mitigate risk while increasing revenue,” said Thomas Stanley, President and Chief Revenue Officer of Chainalysis.
Furthermore, Chainalysis will collaborate with Deloitte’s blockchain and digital assets practice in areas such as cryptocurrency and digital asset risk, analytics, investigation, anti-money laundering, know your customer (AML/KYC), and regulatory compliance.
Deloitte also plans to expand its team of practitioners trained and certified in Chainalysis products, specifically in blockchain analytics and investigations.
In a separate announcement, Deloitte said cryptocurrencies play a role in obfuscating transactions and money laundering.
This is further complicated by challenges such as retrieving information from foreign exchanges, inconsistent government policies, and the continuously evolving nature of the digital assets ecosystem.
The partnership between Deloitte and Chainalysis aims to
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