TRM Labs, a top blockchain intelligence solution provider, has recently partnered with regtech firm, Sumsub. This strategic integration seeks to fight fraud and financial crime. It offers Sumsub users a consolidated view of identity and on-chain risk, making transaction validation and fraudulent activity detection easier.
This collaboration allows users to leverage TRM Labs’ risk intelligence for wallet address screening. As a result, they can score transactions and monitor risk signals in real time. Importantly, all these features are accessible from a single, easy-to-navigate dashboard on Sumsub’s Crypto platform, enhancing user experience.
Fighting Fraud and Financial Crime
The primary aim of this integration is financial crime prevention. By providing a unified view of identity and on-chain risk, it empowers users to spot and manage potential risks more effectively. This could be instrumental in thwarting common fintech sector issues like money laundering and fraud.
The combination of TRM Labs’ blockchain intelligence and Sumsub’s regulatory technology solutions creates an efficient tool for tackling these problems. The addition of real-time risk signals and transaction scoring allows users to react quickly to potential risks, further boosting this tool’s effectiveness.
The partnership between TRM Labs and Sumsub marks progress in the battle against fraud and financial crime. As blockchain technology adoption grows across sectors, the demand for effective risk management solutions intensifies. This combined solution is, therefore, a valuable resource for users and businesses, enhancing security and ensuring compliance in a digital world.
