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<a href="https://bitcoinworld.co.in/kpmg-canada-collaborates-with-chainalysis-to-combat-crypto-frauds-and-exploits/" title="KPMG Canada Collaborates With Chainalysis To Combat Crypto Frauds And Exploits" rel="noopener noreferrer nofollow"></a>
KPMG Canada has teamed up with blockchain analytics firm Chainalysis to combat the escalating threat of fraud and criminal activities associated with cryptocurrencies.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 We’re teaming up with <a href="https://twitter.com/KPMG_Canada?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@KPMG_Canada</a> to provide organizations with a more comprehensive approach to mitigating fraud risks in crypto transactions. Read more:<a href="https://t.co/c9Odtt0cXl" rel="noopener noreferrer nofollow">https://t.co/c9Odtt0cXl</a>
 — Chainalysis (@chainalysis) <a href="https://twitter.com/chainalysis/status/1727300324346528179?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 22, 2023</a>
</blockquote>
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The <a href="https://www.chainalysis.com/blog/kpmg-in-canada-and-chainalysis-alliance/" rel="noopener noreferrer nofollow">partnership</a> 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.
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.
This development responds to the increasing sophistication and frequency of digital asset frauds. The Chainalysis 2023 Crypto Crime <a href="https://www.chainalysis.com/blog/2023-crypto-crime-report-introduction/" rel="noopener noreferrer nofollow">Report</a> paints a worrying picture with illicit cryptocurrency transactions reaching a record $20.6 billion last year.
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.
See Also: <a class="row-title" href="https://bitcoinworld.co.in/kyberswap-lost-about-47-million-in-possible-exploit/" aria-label="“KyberSwap Lost About $47 Million In Possible Exploit” (Edit)" rel="noopener noreferrer nofollow">KyberSwap Lost About $47 Million In Possible Exploit</a>
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.
KPMG Canada is not new to the cryptocurrency landscape. Its foray into the sector includes significant steps like venturing into the metaverse, adding major cryptocurrencies to its balance sheet, and investing in digital art from the World of Women (WoW) NFT collection.
The post <a href="https://bitcoinworld.co.in/kpmg-canada-collaborates-with-chainalysis-to-combat-crypto-frauds-and-exploits/" rel="noopener noreferrer nofollow">KPMG Canada Collaborates With Chainalysis To Combat Crypto Frauds And Exploits</a> appeared first on <a href="https://bitcoinworld.co.in" rel="noopener noreferrer nofollow">BitcoinWorld</a>.

KPMG Canada Collaborates With Chainalysis To Combat Crypto Frauds And Exploits

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