How CATV Helps Businesses Track Money Laundering and Terrorist Funding
“Dirty money is the lifeblood of organized crime and terrorism,” said Věra Jourová in a recent press release of the European Commission*. Jourová is the Commissioner of Justice for Consumers and Gender Equality. For many countries, fighting money laundering and terrorist funding is an important foreign policy issue, and also a constant struggle.
Innovation always comes with a downside. Just like fire was not always used for good cause, the internet is still an instrument for many malicious activities. Revolutionary technologies such as blockchain and cryptocurrencies bring about challenges never seen before. Unlike cash, digital assets are more traceable. This comes with a drawback. Digital transactions no longer require individuals leaving the house and physically exposing their cash to the public. Because digital assets do not have any physical form, they can easily pass through customs undeclared and can be transferred anywhere and anytime, gaining the title of “unstoppable money”.
The Crypto Analysis Transaction Visualization (CATV) tool is the most recent product launched by Sentinel Protocol. The new CATV tool comes with characteristics that make it a game changer in the regulatory industry:
1. Tracking of money laundering
No other product can beat the CATV tool in terms of data gathering. Because the tool has direct access to the Threat Reputation Database (TRDB), the backbone of Sentinel Protocol’s product line, businesses, organizations and even end-users that deal with cryptocurrencies can protect themselves from inadvertently transacting with cybercriminals or laundered funds.
2. Stopping terrorist funding
The CATV tool provides important insight into how a given wallet gets funded and where its funds go, therefore becoming a crucial research instrument in terrorist funding cases. With something as simple as wallet address search, an entire web of transactions can be visually displayed. By using this visualization tool, stolen funds can now be automatically traced and stopped in a matter of seconds.
CATV not only helps with compliance, but also has a positive impact in the physical world. You can be an early adopter and start your investigation today by signing up for the CATV here: https://portal.sentinelprotocol.io/signup
References: http://europa.eu/rapid/press-release_IP-19-781_en.htm
