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 <p class="is-style-lead">KPMG Canada partners with blockchain analytics firm Chainalysis to enhance <a rel="noopener noreferrer nofollow" title="fraud" href="https://thebittimes.com/tag/fraud.html">fraud</a> detection and risk management in the rapidly evolving digital assets sector.</p>
 <p>KPMG Canada has teamed up with blockchain analytics firm Chainalysis to <a rel="noopener noreferrer nofollow" title="combat" href="https://thebittimes.com/tag/combat.html">combat</a> the escalating threat of <a rel="noopener noreferrer nofollow" title="fraud" href="https://thebittimes.com/tag/fraud.html">fraud</a> and criminal activities associated with <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies.</p>
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    <p lang="en" dir="ltr">We’re teaming up with @KPMG_Canada to provide organizations with a more comprehensive approach to mitigating fraud risks in crypto transactions. Read more:https://t.co/c9Odtt0cXl</p>— Chainalysis (@chainalysis) November 22, 2023
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 <p>The partnership is poised to enhance KPMG’s service offerings in blockchain monitoring, governance and risk management, directly targeting the need for stricter compliance with evolving crypto regulations and anti-money laundering initiatives.</p>
 <p>Kunal Bhasin, a partner at KPMG Canada, highlights this alliance as a bolster to their forensic investigation capabilities in the realm of crypto assets and blockchain technology.</p>
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 <p>This development responds to the increasing sophistication and frequency of digital asset frauds. The Chainalysis 2023 Crypto Crime Report paints a worrying picture with illicit cryptocurrency transactions reaching a record $20.6 billion last year.</p>
 <p>The digital asset sector is grappling with advanced threats, including wallet hacks and SIM swaps. A notable example is the recent $114 million loss incurred by cryptocurrency exchange Poloniex due to hot wallet breaches.</p>
 <p>Jonathan Levin of Chainalysis underscored the partnership’s potential, combining KPMG’s in-depth understanding of financial crimes in the crypto space with the Chainalysis advanced risk management platform. The synergy aims to offer a fortified defense against crypto transaction frauds.</p>
 <p>KPMG Canada is not new to the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency landscape. Its foray into the sector includes significant steps like venturing into the metaverse, adding major <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies to its balance sheet, and investing in digital art from the World of Women (WoW) NFT collection.</p>
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Chainalysis: Central, Northern, and Western Europe reported to be second largest crypto economy this year
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/kpmg-canada-collaborates-with-chainalysis-to-combat-crypto-frauds-and-exploits-tbt71277.html">https://thebittimes.com/kpmg-canada-collaborates-with-chainalysis-to-combat-crypto-frauds-and-exploits-tbt71277.html</a></p>

KPMG Canada collaborates with Chainalysis to combat crypto frauds and exploits

TheBitTimes

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