TRM Labs and Sumsub have announced a partnership to integrate identity and on-chain risk monitoring for cryptocurrency platforms, aiming to combat fraud and financial crime more effectively.
This collaboration seeks to enhance compliance and risk tracking across multiple blockchains, responding to increased fraud attempts in the crypto market.
TRM Labs and Sumsub, leading firms in crypto compliance, announced a partnership to create a unified view of identity and on-chain risk. This collaboration aims to proactively combat fraud and enhance financial crime prevention for crypto platforms.
“As illicit actors evolve, so must our tools. That’s why we’re excited to partner with Sumsub — combining TRM’s real-time blockchain intelligence with their identity and behavioral fraud risk signals into a single view. In a fast-moving crypto landscape, this integration helps organizations proactively prevent fraud, stay compliant, and build trust.” – Ari Redbord, Global Head of Policy, TRM Labs
Integration Expands Monitoring Across 25 Blockchains
The integration covers TRM Labs and Sumsub unite to fight crypto fraud effectively, enhancing asset monitoring. Fraud statistics indicate a notable rise in scam reports, emphasizing a need for better compliance tools to counter fraud effectively.
Insights indicate the financial, regulatory, and technological impacts could be substantial. The partnership, without revealing funding figures, capitalizes on both firms’ existing collaborations with major exchanges, potentially reshaping compliance standards in the crypto sector.
Collaboration Builds on Past Anti-Fraud Successes
Previous collaborations in the sector, such as blockchain intelligence integrated with KYC/AML platforms, have substantially reduced crypto fraud. This partnership follows a similar Sumsub and TRM Labs collaborate for enhanced identity verification in crypto trajectory in combating sophisticated fraud activities.
According to a statement by Kanalcoin, compliance expansions are crucial as the demand for risk assessment tools increases. This initiative is likely to influence regulatory frameworks and drive improved compliance across the sector.
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