AMLT RegTech has a sphere of influence is much broader than the FinTech because this is solving the problems associated with not only but also on FinTech sector, industry and economic and human elements that are far more extensive. Our goal is to enablea better way, fast, more secure, transparent and effective way to transfer value and open up a whole world of new opportunities for the market and the individual. Ecosystems caused by lack of AML/KYC risk management that is effective and efficient for blockchain transactions include:
The company receives virtual currency banks and financial institutions
Enterprise Business Intelligence
New Market Participants
The virtual currency market worth more than 100 Billion USD have problems with access to commercial markets and traditional banking and the mass struggle with compliance regulations.
As indicated by industry leaders and research 8, effectively handle Regulatory
Compliance and Anti Money Laundering and Counter Terrorist Financing (AML/CTF) for blockchain and virtual currency has been a big obstacle and loss that is lost on the commercial and financial sectors and their mass adoption in overall.
The fight against money laundering and terrorist financing is not only a moral but also a legal obligation. Without the mechanism of prevention and control of transactions money flows directly to the business of illegal drug dealers, human traders, merchants or terrorist weapons and put the rest of the market and its participants are at risk. Therefore the companies dealing with exchanges of value through blockchain should make sure that they do not knowingly or unknowingly exposed, partying or facilitate the transfer of a high risk or the opposing side. The lack of such basic risk management can lead to violations of the rules for the companies involved.
Blockchain is a system of peer-to-peer and with all its benefits, it also carries some risks such as the risk of a counterparty which is currently largely addressed through intermediaries in the economy such as a bank or traditional payment transmitter.
Even when you receive virtual currency in your online bookstore For example, the funds could come from an unknown source.
Potential sources who did not want to face You and it can make you and Your clients or partners at risk. Next, you probably know the party you are dealing with it very well, but with the intentionally or not some blockchain assets they could come frompeople who get it from illegal sources that ultimately make you related too.
The application and implementation of the rules and regulations of the AML/CTF is a worldwide challenge to be solved. Current estimates indicate on a traditional system, enforcement of the AML fail 99.9% of the time and less than 1% of global illicit financial flows were seized and broken. The procedure is quite arbitrary and rather general than specific, i.e. considering all transfers from several countries as high risk that helped contribute to the problem of financial exclusion.
Application and implementation procedures of AML/CTF is even more important for the business of virtual currency. This is the burden of limiting growth in the speed and scale of market growth. Operating in the space of this new dynamic requires the application of the same standards as banks and other financial institutions. However, we believe that the conflict with the banking system, the process of virtual currency can be encouraged by data that is effective and democratic enough because all participants in the ecosystem can give input and participation. Thanks to it could be way more accurate, effective and less arbitrary than traditional systems. Therefore, not only allows more efficiency and transparency but also the opening of financial markets to more participants and promote financial inclusion
What is a COINFIRM?
The company’s global RegTech focuses on AML/CTF for Blockchain, a recognized influencers in the industry Blockchain/Virtual Currency and RegTech.
Led by leaders and professionals from the industry, AML compliance, anti-fraud andBlockchain
Partners and clients range from players such as Dash and main crypto RSK to large financial institutions such as the SEI
Pawel Kuskowski, Coinfirm CEO & Co-founder
AMLT is the main liaison at Blockchain, helping businesses to ensure transparency and security — to protect themselves, their customers and grow by solving one of the biggest-Blockchain needs an effective compliance and AML procedures.
AMLT helps market participants to access data about the risks associated with virtual currency-use AMLT to get the report and make full use of crypto-cardiac economy.
This brings the efficiency and effectiveness of AML/CTF compliance and democratization for market participants globally
User AMLT will help define the perpetrators of the good and the bad with a precision beyond the reach of current financial system — without unfairly exclude individuals in countries affected by sanctions
DETAIL INFORMATION :
Website : https://amlt.coinfirm.io
Whitepaper : https://amlt.coinfirm.io/pdf/white-paper.pdf
Telegram : https://t.me/AMLT_Coinfirm
Facebook : https://www.facebook.com/AMLToken/
Twitter : https://twitter.com/AMLT_Token
Linkedin : https://www.linkedin.com/company/coinfirm/
Redit : https://www.reddit.com/r/AMLT/
My Ethereum Address: