AML (Anti-Money Laundering) On Cryptocurrencies

Business Challenges

• •Unregulated Crypto market
• •Most of the crypto tokens provide pseudo-anonymity
• •Attracts different types of illegal activities
• •Law enforcement and investigating agencies have a constant challenge dealing with ever-increasing domain knowledge and inadequate tools.
• •No limit on wallet (account) creations
• •KYC is not made mandatory for Crypto transactions

Bayshore's Approach/Solution

Bayshore developed this web application that has 3 main components.

• •The first component deals with case management and related features like adding/ reporting a case, searching for a case from the knowledge base based on different filters, creating links between different cases, etc.
• •The second component provides ML prediction-based insights along with different analysis for any individual wallet address. In the backend, a Machine Learning pipeline has been built to ingest data at large volume in real-time, pre-process the data as per different requirements, and then use model inference in different scenarios to provide valuable insights.
• •In the third component, a Graph DB interface has been built where ML inferences have also been integrated. One can interact with the graphs to derive discernible insights without writing any query code.

Outcomes/Benefits

The primary benefits of this application are as follows:

• •Case management system for Digital Forensics
• •Insights on wallet balance; track balance over time
• •Insights and track transaction frequency of any wallet address
• •Money flow tracking between wallet addresses
• •Entity clustering of wallet addresses based on transactional information