Coinfirm is a UK-based project specializing in anti-money laundering and other compliance systems, launched by experts in the AML/CTF fields.
CEO Pawel Kuskowski is a leading anti-money laundering specialist, whose resume boasts such institutions as Royal Bank of Scotland (where he served as chief manager of global AML/CTF). He is also the President of Poland Compliance Association.
Coinfirm’s platform utilizes proprietary algorithms and large-scale data analysis to provide practical data: this results in reduced costs and streamlined compliance for corporate users, as well as safe and secure virtual currency transactions for private individuals.
The company’s API is connected to nearly all blockchain trading platforms and automatically provides AML evaluation to customers for each transaction. The counterparty’s evaluation is performed in real time by the company’s engine and results are provided within a few seconds. Using these tools, virtual currency exchanges can quickly automatically determine if a transaction is safe to execute.
The AMLT token gives rights to access the Coinfirm AML/CTF network platform. AMLT tokens also provide users with risk data for cryptocurrency transactions. AMLT provides the highest level of reliable data and transparency to the blockchain market. It is a service to facilitate the operation of blockchains.
There is one aspect that virtual currency and money laundering and illegal trade have a deeper relationship than the early days of Bitcoin. By using the Coinfirm AML/CTF platform through AMLT, users can eliminate risks such as money laundering in virtual currency transactions.
Coinfirm and AMLT
Coinfirm’s goal is to introduce AML/CFT education to existing financial institutions interested in virtual currency trading. Virtual currency has a stain upon its history from being used for illegal purchases. Coinfirm hopes to erase this stain by introducing a failsafe system that will allow users to immediately check the validity of counterparties.
Coinfirm has already raised $700,000 in funds from the investment company Luna Ventures in February 2017. It is backed by numerous other high profile partners.
Anti money laundering measures are indispensable for spreading cryptocurrency use. Without such countermeasures, full-scale entry into the virtual currency market from financial institutions and other vendors is virtually impossible. Coinfirm’s platform is indespensable in the fight to normalize crypto-spending.