AML (Anti-Money Laundering)
On Cryptocurrencies

AML (Anti-Money Laundering) On Cryptocurrencies

Providing a feature-rich case management system along with crypto token data-related insights, monitoring, and tracking geared towards Anti money laundering and other illegal activities over the blockchain. Predicting risk associated with crypto accounts and finding/ extracting internal patterns of the transactions based on relevant features.

  • 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 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.

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