KPMG Canada has partnered with Chainalysis, marking the first collaboration of its kind.
This alliance aims to combat crypto fraud through joint forensic investigation services, bolstering KPMG’s capacity to aid clients across sectors in navigating evolving cryptoasset regulations and fortifying Anti-Money Laundering (AML) Compliance programs.
Enhanced Capabilities for KPMG Client Support
By teaming up with Chainalysis, KPMG Canada intends to bolster its support for clients by harnessing Chainalysis’ exclusive blockchain data monitoring technology.
Furthermore, this collaboration is poised to significantly elevate KPMG’s ability to identify potential criminal activities promptly and respond more rapidly to such threats, as expressed by Enzo Carlucci, National Forensic Leader at KPMG in Canada.
Partnership to Strengthen Cryptoasset Security and Investigations
KPMG in Canada has entered into an agreement with Chainalysis, joining the Chainalysis Solution Provider program.
This involves certifying KPMG professionals as Chainalysis Certified Investigators. In addition, this certification aims to bolster their capabilities in assisting clients, including public sector agencies and private businesses, to identify and prevent illicit activities associated with cryptoassets.
Moreover, KPMG sees this partnership as a commitment to providing clients with trusted advisory services in the ever-evolving cryptoasset space, reinforcing their expertise in forensic investigations and blockchain technology.
Addressing the Crypto Crime Surge
Additionally, this partnership comes as a direct response to findings from the Chainalysis 2023 Crypto Crime Report – unveiling a staggering record of $20.6 billion in global illicit transactions conducted through cryptocurrencies.
Consequently, the strategic collaboration between KPMG Canada and Chainalysis underscores a proactive approach in deploying advanced technology to safeguard clients amidst the surge in illicit crypto-based activities.
In conclusion, KPMG Canada’s collaboration with Chainalysis to counter crypto fraud also underscores a strategic initiative that capitalizes on cutting-edge technology. Lastly, this alliance also aims to provide heightened protection for clients amid a climate witnessing an alarming rise in illicit transactions conducted through cryptocurrencies.
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