7 April, LONDON, UK – nagel + associates, forensic and investigative accountants, and the leading RegTech and blockchain analytics provider, Coinfirm, have announced their partnership to enhance the security of the blockchain economy.
By deploying advanced analytics to combat market manipulation and fraud, this partnership will complement nagel + associates’ crypto advisory practice and will enable the firm and Coinfirm to assist clients in asset recovery and embezzlement cases. With Coinfirm’s clustering algorithms, e-discovery, destination and source of funds, ownership analysis and fingerprints of activity, Toronto-based nagel + associates’ practice of crypto investigations into corporate fraud, investment scams and concealment of income/assets scenarios, will be enhanced.
“Our partnership with Coinfirm, a globally-recognized blockchain analytics and regulatory technology firm, demonstrates our commitment to aligning ourselves with innovative, forward-thinking organizations that can provide timely and accurate reporting of blockchain activity, for purposes of tracing and recovering misappropriated funds or identifying hidden income or assets” – Edward Nagel, Principal and Founder of nagel + associates.
nagel + associates recognizes that the fraud and white-collar crime landscape has shifted, such that perpetrators are now seeking new methods—including the use of cryptocurrency—to carry out financial crime and to obfuscate the movement and ‘parking’ of illicit funds. Given the relative ease with which money can move around the world today and the fact that ‘following the money’ can no longer be limited to accessing the records of traditional financial institutions, forensic accountants must have within their ‘toolbox’ the expertise and capabilities of a company like Coinfirm to effectively trace activity in the blockchain.
“We are proud to partner with such an innovative firm as nagel + associates in the effort to power the mass adoption of blockchain. Coinfirm is able to work with partners to fight back against criminals and those who would look to corrupt the financial system with Ponzi schemes, fraud and other forms of financial crime that erode trust within markets. With this collaboration the transparency of our ecosystem will certainly be strengthened.” – Pawel Aleksander, CIO and co-founder of Coinfirm
Founded in 2016, Coinfirm provides a full suite of solutions for blockchain analytics for crypto assets, allowing entities such as nagel + associates to not only fulfill their requirements but do so more effectively and efficiently than ever before. With over 10,000 blockchain entities actively monitored by 270+ red flag algorithms ranging from financial crime to counterparty identity – real-time crypto asset monitoring and investigation of funds through customizable risk and analytics data is brought to bear.
About nagel + associates
nagel + associates is a Toronto-based boutique forensic accounting firm. The firm’s exclusive focus on forensic and investigative accounting allows it to remain independent, focus on doing the work that aligns with its expertise, and most effectively and efficiently respond to urgent and sensitive matters facing its clients. nagel + associates works closely with organizations and individuals, as well as their legal counsel, to investigate allegations of fraud and other wrongdoing, and to support litigation and dispute resolution processes. The firm’s core practice of forensic accounting is complemented by its anti-fraud consulting, anti-fraud training, and crypto advisory services. For more information, please visit: https://nagel-forensics.com/
Coinfirm is the world leader in blockchain analytics and regulatory technology (‘RegTech’) solutions, creating the foundation for the safe and mass adoption of blockchain and cryptocurrencies. Coinfirm specializes in blockchain AML/CFT (‘Anti-Money laundering’ / ‘Combatting the Financing of Terrorism’) services and fraud investigations. It offers the industry’s largest blockchain coverage, supporting over 1,500 cryptocurrencies and protocols including Bitcoin and the ERC-20 standard. Coinfirm’s solutions are used by market leaders globally, ranging from crypto exchanges such as Binance, and protocols like XRP, to major financial institutions and governments. In addition to the AML Platform, the company’s services also include Trudatum, Reclaim Crypto, the all-in-one Travel Rule solution and Nodes-as-a-Service. Coinfirm is the first firm to offer an AML compliance solution to DeFi in the form of the AML Oracle. For more information please visit; https://www.coinfirm.com/