The US Office of Foreign Assets Control has requested another subscription to the channel analytics analytics software to speed up its blockchain transaction monitoring efforts.
In public notice Sent on 26 May, the agency reaffirmed its intention to subscribe to Chancellis’s roomer training and support packages for what it considers to be “mission-critical research”, and “mission-critical research” Expanded its arsenal of surveillance equipment.
This week’s public notice is the second such request the agency has made earlier this month. Request On May 4 for the Chainalysis blockchain monitoring tool.
The latest notice states that the Treasury Department’s Office of Foreign Assets Control needs a commercial online blockchain tracing web-based application tool to equip investigators in its Global Targeting Office (OGT).
OFAC is a financial intelligence and enforcement agency of the US Treasury Department that administers and enforces economic and trade sanctions in support of US national security and foreign policy objectives.
The primary purpose of the software acquisition is for the US government and foreign partners to cooperate in money laundering and terrorist financing investigations.
The software will be used to analyze and track virtual currency transactions to obtain information on the parties involved that may put the OGT on the “List of Specially Designated Citizens and Blocked Persons” (SDN) list.
The Chainalysis Rumker software suite includes observations and nodes, which help to find out where the server nodes are running. It also comes with Wasabi demixing tools that allow the agency to access cryptographic information on previously unclear transactions. The notice states:
“Channelisys meets the requirements of OFAC by effectively providing the following capabilities: address clustering, transaction flow mapping and graphing, wallet explorer, user behavior analysis, exchange rates, trading and market data.”
a Report good On May 27, blockchain analysis firm Elliptic has revealed that financial criminals have intensified their efforts to stop state tracking using mixing services, which allow users Mix your coins with others in a pool of money To add a layer of anonymity to a transaction.
Other methods include the use of privacy coins such as Monero and the privacy purse, in addition to using irregular exchanges to avoid the needs of their customer.
In March, US Crypto Exchange Coinbase Reported Several of its transactions were being reviewed by OFAC for potential violations of US sanctions laws. There were no apparent violations at the time, the couple said.
In February, Cointegraph reported that Bitpay was fined half a million dollars From OFAC for providing crypto services to accepted territories.