LexisNexis and Elliptic Partner to Bring Financial Transparency to the Bitcoin Blockchain

In a new partnership, LexisNexis Risk Solutions, a global big-data technology and analytics firm, has integrated its anti-money laundering data into Elliptic’s Bitcoin transaction monitoring and compliance products. As a result, clients of Elliptic’s blockchain intelligence service can obtain more meaningful insights by automatically screening Bitcoin entities for links to sanctions, enforcement, politically exposed persons, adverse media and state-owned companies, as well as “exposing money launderers, human traffickers, terrorists and drug dealers who use Bitcoin to make dark web purchases.”

“The lack of financial transparency on Bitcoin entities continues to stymie the ubiquitous adoption of Bitcoin and other virtual currencies,” notes a joint press release . “That reality, though, is soon to be short-lived.”

Elliptic, a blockchain security and compliance company established in London in 2013, strives to be  ” the global standard for blockchain intelligence ” by transferring the rigorous security and compliance standards of traditional finance to the world of digital currencies. “We identify illicit activity on the Bitcoin blockchain and provide actionable intelligence to financial institutions and law enforcement agencies.” In July, for example, Elliptic and the Internet Watch Foundation announced a partnership to monitor and report Bitcoin transactions

Read more ... source: TheBitcoinNews

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