Canada Takes Active Measures Against Crypto Crime
Date: 2023-11-25 Author: Dima Zakharov Categories: IN WORLD
Strengthening the Fight Against Fraud
The Canadian division of consulting giant KPMG is teaming up with Chainalysis to help numerous firms combat the rising menace of fraudulent activities in the digital assets realm.
Enhanced Monitoring and Support
Through this partnership, KPMG seeks to provide advanced blockchain network monitoring capabilities. Additionally, the company will offer support and aid in risk management for its clients, ensuring compliance with laws and regulations while advancing their anti-money laundering programs.
Insights and Strategies
"This partnership further fortifies KPMG's expertise in investigating blockchain and cryptography-related matters," stated Kunal Bhasin, Partner and Co-Leader at KPMG Canada. This strategic move responds to the escalating visibility of exploits, fraudulent actions, and financial losses within the digital assets sector.
Crypto Crime Insights
According to Chainalysis' 2023 Crypto Crime Report, illegal cryptocurrency transactions reached a record high of $20.6 billion last year.
Comprehensive Solutions
"Combining KPMG's expertise in financial crimes associated with crypto assets with the capabilities of our risk management platform allows us to offer organizations a more comprehensive approach to combatting fraud," said Jonathan Levin, Co-Founder and Chief Strategy Officer at Chainalysis.
KPMG Canada has been actively involved in the cryptocurrency sector. Last year, the company established a collaboration hub between its divisions in the United States and Canada within the Metaverse. Moreover, the leadership acquired BTC and ETH assets and several items from the digital collection NFT World of Women (WoW).
