SINGAPORE, Sept. 13, 2023 /PRNewswire/ — Trustformer, the esteemed subsidiary of global blockchain solutions provider ChainUp, a frontrunner in global crypto asset security and compliance solutions, has embarked on a collaborative venture with Nanyang Technological University (NTU) to harness AI in the realm of anti-money laundering (AML). This initiative, bolstered by the support and funding from the Cyber Security Agency of Singapore (CSA), underscores Trustformer’s commitment to utilizing cutting-edge AI algorithms and AML methodologies to offer data and computational expertise to both NTU and the CSA.
Amidst the rapid evolution of digital finance and the cryptocurrency market, safeguarding against risks like money laundering and terrorist financing is paramount. With Trustformer’s robust crypto risk management and compliance solutions, Singapore government is poised to proactively monitor and mitigate suspicious crypto transactions, enhancing the overall safety and integrity of the digital asset sphere. Trustformer’s compliance technology solution aids regulators and researchers in scrutinizing suspicious stablecoin and cryptocurrency transactions, setting the benchmark for efficient and intelligent crypto financial regulation. The firm’s ongoing innovations in AML, crime investigation, ransomware, and suspicious transaction analytics further consolidate its position as a leader in applying AI to Singapore’s crypto regulatory landscape.
As an innovator in global regulatory tech, Trustformer’s Know Your Transaction (KYT) platform offers users a comprehensive suite for crypto transaction risk monitoring. The KYT solution enables risk warnings before transactions, risk scans of target addresses, and post-transaction analysis. This empowers users to proactively detect potential vulnerabilities and ensures compliance with global financial regulations. Furthermore, it aids regulatory bodies in effectively pinpointing risks associated with money laundering, criminal activities, illegalities, fraud, and other financial crimes.
Additionally, Trustformer’s KYT platform boasts advanced risk management and analytical capabilities, providing users with macro and micro insights into crypto asset and entity risk profiles, facilitating timely risk strategy adjustments.
In partnership with NTU, the government’s vanguard for cyber and information security that guides Singapore’s cyber fortifications, Trustformer is dedicated to advancing blockchain security standards and practices. Both entities are committed to fostering a safer and more reliable trading environment for the global crypto asset community, marking a significant stride towards enhancing the safety and compliance of digital assets.
Invested and incubated by ChainUp, Trustformer leads in integrating compliance technology with real-time risk monitoring. Harnessing AI language models, Trustformer’s solutions adeptly combine Web2 content semantics with Web3 transaction data, offering unparalleled real-time risk identification. This allows for real-time identification and alerting of risks associated with entities, wallets, and transactions. Adhering to the FATF Travel Rule, Trustformer blends global cross-border financial regulations with localized financial and cryptocurrency licensing policies. This ensures real-time risk identification, transaction analysis, and alerts. Through graphical node reasoning, the platform provides in-depth analysis of transaction addresses and fund flows, in addition to offering risk compliance investigation and financial security audit services.