Notable

<div class="coinjournal">
 <ul class="decimal_type">
  <li>The collaboration is aimed at combating digital asset fraud and enhancing anti-money laundering efforts.</li>
  <li>The two will work to address the record-high $20.6B in global cryptocurrency-based illicit transactions.</li>
  <li>They will provide advanced blockchain monitoring and governance.</li>
 </ul>
 <p>In a strategic move to address the escalating threat of <a rel="noopener noreferrer nofollow" title="fraud" href="https://thebittimes.com/tag/fraud.html">fraud</a> and criminal activities in the digital assets sector, KPMG Canada has joined forces with blockchain analytics firm Chainalysis.</p>
 <p>This partnership aims to bolster companies’ capabilities in adhering to evolving crypto regulations and advancing their anti-money laundering compliance programs.</p>
 <h2 id="enhancing-crypto-security-measures-amid-growing-threats">Enhancing crypto security measures amid growing threats</h2>
 <p>The collaboration between the Canadian arm of KPMG and Chainalysis comes as the digital asset sector witnesses an increase in the sophistication of exploits and <a rel="noopener noreferrer nofollow" title="fraud" href="https://thebittimes.com/tag/fraud.html">fraud</a>s.</p>
 <p>The Chainalysis 2023 Crypto Crime Report revealed a record-high global cryptocurrency-based illicit transaction volume of $20.6 billion in the previous year. Notable incidents, such as wallet hacks and SIM swaps, have underscored the need for robust security measures within the crypto space.</p>
 <p>KPMG Canada aims to leverage its extensive knowledge in cryptoasset financial crimes by providing advanced blockchain monitoring, support, governance, and risk management.</p>
 <h2 id="chainalysis-and-kpmg-canada-partnership">Chainalysis and KPMG Canada partnership</h2>
 <p>This collaboration will enable organizations to adopt a more comprehensive approach to mitigating <a rel="noopener noreferrer nofollow" title="fraud" href="https://thebittimes.com/tag/fraud.html">fraud</a> risks in <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> transactions. Jonathan Levin, Chainalysis co-founder and chief strategy officer, expressed confidence in the partnership, stating that combining KPMG’s expertise with Chainalysis’ industry-leading risk capabilities will contribute to a more effective defence against <a rel="noopener noreferrer nofollow" title="fraud" href="https://thebittimes.com/tag/fraud.html">fraud</a> in the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> space.</p>
 <p>KPMG Canada has been actively involved in the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency sector, extending its footprint into the metaverse and making strategic additions to its balance sheet with bitcoin and ether. This move underscores the consulting giant’s commitment to staying ahead in a rapidly evolving digital landscape.</p>
 <p>The collaboration between KPMG Canada and Chainalysis signifies a joint effort to navigate and address the complexities of financial crimes in the crypto sector, which continue to pose challenges to the security of digital assets.</p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/kpmg-canada-partners-with-chainalysis-to-tackle-crypto-frauds-tbt71356.html">https://thebittimes.com/kpmg-canada-partners-with-chainalysis-to-tackle-crypto-frauds-tbt71356.html</a></p>

KPMG Canada partners with Chainalysis to tackle crypto frauds

Table of Contents

TheBitTimes

Other articles published on Nov 23, 2023

Nearly $6.5b in Bitcoin and Ethereum options are set to expire

Binance forgot to stick to CZ’s principles — now it owes billions

Exploring Solana and how it can shape crypto investment trends

Bitcoin Witnesses Brief Uptick as Overall Crypto Market Turns Green

Shiba Inu Rival Dogecoin Gearing Up for a ‘Significant Price Spike’, Says Crypto Analyst – Here’s...

ARK Scan Updates - General Improvements

Join our free newsletter for daily crypto updates!