The Office of Foreign Assets Control (“OFAC”) of the US Department of the Treasury administers and enforces economic and trade sanctions based on US foreign policy and national security goals against targeted foreign countries and regimes, terrorists, international narcotics traffickers, those engaged in activities related to the proliferation of weapons of mass destruction, and other
What Is On-Chain Analysis? On-chain analysis is the process of identifying, inspecting, and continuously tracking transactional data on a blockchain, with the main goal to understand activities and link participants to identifying information. In risk analysis, an important method used is machine learning to create risk models and risk scores based on the transaction amount,
What is OECD The OECD is a platform for 38 member countries to discuss economic policies and improvement areas. Most of the FATF member countries overlap with OECD’s. Additionally, the FATF Secretariat is housed administratively at OECD. The organization’s work on combating corruption and tax fraud is of particular interest to the FATF, primarily because it assesses the link
Ownership analysis is aimed to provide as many possible ‘quality’ pieces of evidence and strong indications as to who is an owner and who is a beneficiary of each blockchain address deemed to be relevant for the investigation. Related Articles Authorities Overlook Millions of Dollars in Stolen Assets Battles of Dirty Money and Blockchain: How to Trace Stolen
What are Politically Exposed Persons (PEP)? A Politically Exposed Person or ‘PEP’ is an individual of high public office that may wield significant influence, have access to inside knowledge of government, be in a position to siphon public funds or the awarding of public contracts. PEPs abusing their position of power (i.e. corruption) comprise a
Private keys are a cryptographic code that functions as a secret password that allows the user to sign a cryptocurrency transaction and transfer funds to another cryptocurrency address. Using the private key proves ownership of cryptocurrency. Related Articles The ultimate guide to Bitcoin Forks Are cryptocurrency reclaim cases defining that Bitcoins constitute property?
Pro-rata is a Latin term used to describe a proportionate allocation. It essentially translates to “in proportion,” which means a process where whatever is being allocated will be distributed in equal portions. This could be for use in many business finance cases such as partnership liability, bankruptcy law, insurance, etc.
Ransomware as a Service or ‘RaaS’ is the deployment of ransomware sold or rented on the internet. Related Articles The Evolution of Cryptocurrency Crime in the Darknet Battles of Dirty Money and Blockchain: How to Trace Stolen Crypto
Reentrancy attacks come from the abuse of the reentrant procedure, that is, by exploiting reentrancy and calling the external contract with an incorrect state of the victim’s contract, a smart contract will then be drained out by attackers as they will be able to transfer tokens that are already withdrawn. The reentrancy attack occurs where
RegTech or ‘regulation technology’ is the recent innovation provided by companies that use technology to help businesses comply with regulations more efficiently and inexpensively. Coinfirm is a leading RegTech company. Related Articles European FinTech Hackcelerator 2020 – 1st prize for Coinfirm!
