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Financial Crime and Bank Fraud​

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Cryptocurrency

Cryptocurrency Investigation Platform

With the growing prevalence of cryptocurrencies and decentralized blockchain assets, financial institutions and corporations face increased risks. Price manipulation, fraud, and investment theft are some issues surrounding the virtual currency world.

Increasingly, cryptocurrency is aiding and abetting criminals to hide, steal, and launder ill-gotten gains. In finding a solution to conduct cryptocurrency due diligence, knowing your customer (KYC) validation and financial investigations is a must. Our crypto module allows the enhanced capability for blockchain investigations and compliance, including DeFi and NFTs, by combining cross-ledger analysis, automated risk scores, state-of-the-art intelligence tools, and traditional investigative techniques.

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Cryptocurrency Crime

Although the blockchain, cryptocurrencies, and decentralized networks positively impact the global financial world by allowing more transactional freedom, criminals exploit these innovations to promote fraudulent schemes, including illegal market manipulation and investment fraud. Money laundering, ransomware, cryptocurrency thefts, and illegal financing threaten the integrity of these new digital currencies.

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Verify Customer Identities

Check customer application data against numerous data sources to determine correct corresponding traits and behavioral anomalies that could indicate synthetic or fake identities.

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Confirm ICO Profits

Take informed decisions on transactions sourced from ICO profits and other cryptocurrency activities.

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Detect Fraud Networks

Collect information and draw connections with financial fraud offenders using artificial intelligence.

Cryptocurrency:
An Attractive Target for Criminals

Fraud and criminal activity in the cryptocurrency world are increasingly more common and take many forms, including:
  • Ponzi schemes
  • Scams and honeypots
  • Pump and dump schemes
  • Traditional theft
  • Market manipulation and insider trading
  • Real-world crime financing (e.g., narcotics, human trafficking, terrorism)
  • Money laundering
In the fast-paced world of decentralized finance, spotting crypto fraud and criminal activity is challenging. Transactions get stored in anonymized hashes, wallets are a messy string of characters, and many exchanges maintain little-to-no KYC. Cybercriminals and criminal networks exploit these vulnerabilities across the blockchain and dark web to look for openings to defraud individuals and corporations through crypto scams. While many platforms intentionally anonymize activity to obfuscate the identities of their users, illicit and abusive activity is identified and attributed to real-world actors by analyzing ledger data at scale and pulling in non-ledger data as a complement. Non-ledger data and open-source intelligence can provide a complete analysis of this illicit activity, enabling KYC and anti-money laundering (AML) solutions in otherwise impossible cases delivering successful investigative results.

Cobwebs Cryptocurrency Intelligence Platform

Cobwebs assist businesses, investors, law enforcement, and financial institutions with cryptocurrency investigations, intelligence gathering, and asset tracing. Our automated web investigation platform provides a solution to detect and investigate financial crimes involving cryptocurrency in both physical and virtual spaces. Our solution uses artificial intelligence to automatically analyze web data applications looking for any behavioral anomalies related to cryptocurrency transactions. In addition, our platform provides a comprehensive digital risk score while pulling in open-source intelligence about wallet addresses and transactions across various blockchains and cryptocurrencies.
Our intelligence solutions identify cryptocurrency transactions on dark web marketplaces, adding another intelligence layer for investigators and regulators. All risk types are analyzed to aid in KYC and AML analysis. In addition, our platform automates network analysis, assisting clients in identifying money mule threats, mixing transactions, conducting UBO discovery, and notifying analysts and investigators about other associated risks. In any investigation, due diligence is vital. Our cryptocurrency intelligence solutions automate and expedite the entire process. Clients can map out risks and abusive behavior, identifying potential threats to digital assets. Finally, our solution gives analysts and investigators additional intelligence about wallets and transactions by adding network analysis from these entities’ surface, deep, and dark web. This unprecedented network analysis across all web layers is a force multiplier when conducting KYC, AML investigations, and due diligence. With fraudulent activities on the rise, it is vital to have an automatic source to handle your cryptocurrency investigations. Our cryptocurrency intelligence solutions help to identify and prevent these activities that can affect an individual’s wallet, addresses, and accounts. It also supports investigators in understanding this currency’s illegal use and misuse.

Contact us to find out more about our cryptocurrency investigation solutions.

Cryptocurrency Resources

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Identifying Illegal Cryptocurrency Activities via Blockchain Analysis

Financial institutions use Cobwebs’ blockchain analysis to ensure regulatory compliance and prevent and identify illegal cryptocurrency activities.

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Blockchain Analysis of Cryptocurrency Transactions

Blockchain transactions can be traced since they leave digital "footprints" behind. With Cobwebs' Crypto Solution, an investigator can detect, categorize, and get key information about the threat actors and illicit transactions without having to access the dark web directly.

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The Risky Business of Funding Causes With Cryptocurrencies

For wallet holders that want to fund good causes using their crypto coins, keeping their private key confidential is crucial. Cobwebs' Crypto solution helps authorities ensure transactions are legitimate.

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