Crypto currency transactions are becoming increasingly prevalent nowadays. Their decentralized characteristics have advantages such as open data, secret transactions, and no need for third-party intervention. However, they also have disadvantages such as unregulated and irrevocable transactions, which are accompanied by potential transaction risks such as fraud and money laundering.In particular, after the bankruptcy of FTX, global attention on the legal compliance of crypto currencies and virtual assets has gradually emerged.<h1>As regulations of virtual assets become stricter, a one-stop eKYC/AML solution can be a "life saver."&nbsp;</h1>For example, in Taiwan, the Financial Supervisory Commission officially included "crypto currency platforms and transaction businesses" into the scope of money laundering prevention from July 2021, and implemented real-name transactions for "virtual currency investments." This includes exchanges or other VASPs confirming the identity of their customers. So far, a total of 26 operators have completed the declaration and implemented the real-name system, and more are said to be in the pipeline.In a New Year press conference on January 12, Huang Tianmu, the chairman of the Financial Supervisory Commission, also said that cryptocurrency companies will have money flow with banks, so the current focus of regulation is to recover customer information through banks' KYC, which can have an anti-money laundering effect.In response to the implementation of the Money Laundering Control Act, major virtual currency exchanges in Taiwan have introduced real-name authentication. ACE requires users to have at least an A-level security authentication, which includes a verified ID card and facial recognition, in order to receive, transmit, and buy and sell virtual assets. Oursong also requires users to carry out real-name authentication if they want to convert OSD nodes into other currencies for withdrawal, top-up, and sell NFTs over 2000 OSD, in order to ensure the security of the platform. Binance, the world's largest cryptocurrency trading platform, also said it would follow KYC standards and provide users with more secure and high-quality services.In other words, under the regulations of anti-money laundering, the requirements of real-name authentication (KYC) or digital real-name authentication (eKYC) are needed, strengthening the KYC of enterprises, which plays a role as a "life saver." And for the end user, it can also improve the security of the transaction, making the user experience more comfortable and leading them to utilize all the functions of the exchange more effectively.<h1>ACE leverages one-stop eKYC/AML solutions to improve the cryptocurrency exchange user registration experience</h1>ACE Exchange is the legal and compliant exchange in Taiwan that provides the largest number of financial products. Mainstream crypto currencies such as Bitcoin (BTC), Ether (ETH) and USDT (Tedt) can be bought and sold easily within 24 hours at any time. In addition, ACE also offers a variety of financial tools, including dollar cost averaging and grid trading, which is popular among investors. Plus, ACE is equipped with robots that can&nbsp; automatically buy low and sell high, which makes it convenient to invest without constantly staring at the market and seize any profit opportunities.&nbsp;ACE uses KryptoGO Compliance under eKYC/AML regulations, optimizes the user registration experience, and makes follow-up audits less time-consuming.1 Improve user registration experienceTraditionally real-name authentication, the user needs to manually fill in the name, ID number and other ID card information, then enterprise internal will check the personal data manually, determine whether the identity certificate is true, compare the identity certificate and the applicant is the same person, not only time consuming, also can not rule out the possibility of human negligence.KryptoGO Compliance anti-money laundering solution works with Jumio, an international AI identity verification service provider, to provide comprehensive face recognition technology, identity identification, living body detection, OCR text recognition, automated account opening process for users. Improve the past cumbersome user registration experience, but also avoid the possibility of manual errors.2 Quickly identify illegal customers and reduce time costAfter identity verification, KryptoGO Compliance gives risk advice based on AI cross-referencing and identifying keywords, allowing companies to quickly filter their customer lists to find those that need further scrutiny.When an enterprise decides to conduct background checks on its customers. Traditionally, news content relevant to users is reviewed one by one by censors, printed out, and saved as a paper file. KryptoGO Compliance anti-money laundering solution combines crawling technology with artificial intelligence and NLP language processing to quickly identify and flag the key person of an article, avoiding irrelevant names such as journalists, police officers or other interviewees; In addition, KryptoGO Compliance can automatically set negative news keywords, such as embezzlement, insider trading, sentencing, money laundering, terrorist financing, etc., so that the system can automatically highlight the keywords.3 One-stop search information, blacklist no hidingKryptoGO Compliance is not only linked to the world's largest commercial database: Dow Jones also links more than 15 data sources in one stop, so that you don't have to open your browser one by one to search for different external information, whether it is business registration, legal data retrieval system, Wikipedia, highly sensitive list, etc., you can find all the content you want to save cut out and label. The blacklist has no hiding place in the KryptoGO Compliance solution!In addition, KryptoGO Compliance provides risk advice based on AI identification, allowing companies to quickly filter their client lists to find those that need further scrutiny.4 Record review track and generate review compliance reports with one click, never afraid of the government suddenly finding trouble!KryptoGO Compliance team has expertise in finance, supervision, and technology, two internationally recognized anti-money laundering professionals, regular meetings with the Financial Management Board, customer feedback, and the provision of "customer potential risk scores" as a reference for review.In addition, the KryptoGO Compliance will record every audit trail, and can generate an audit compliance report just one-click and save it in the system, or as PDF, so that you will not be afraid of trouble in the future when the authorities check!Through the KryptoGO Compliance one-stop anti-money Laundering solution system, ACE’s identity verification process is fully automated, and the staff only need to make final confirmation. For high-risk lists, KryptoGO Compliance AI technology can automate the audit process, which can reduce the operation time by 83%, and generate a one-click risk review report that meets the requirements of the authorities, greatly improving the efficiency of account opening and examination.<h1>KY-A-B-C, KryptoGO Compliance is the first financial regulatory investigative engine</h1>KryptoGO developed the world's first automated financial supervision investigation engine, which uses natural language processing (NLP) and AI learning models to create a one-stop eKYC &amp; AML solution. AI technology automates the customer review process and generates a one-click risk review report that meets the requirements of the authorities.&nbsp;<h2>What KryptoGO Compliance can do:</h2>KYA (Blockchain Wallet Address Risk Analysis) , regulates blockchain wallet transactions through KryptoGO's address tagging and classification technology.KYB (Corporate Customer Due Diligence) , covers hundreds of third-party databases for regulatory review, easily complying with local regulations in over 200 countries.KYC (Natural Person Due Diligence) , verifies 3,500 ID documents from more than 200 countries online, with 95 percent accuracy through AI automatic name check.KryptoGO used the Google Compute Engine (GCP) cloud computing service provided by Gaia Information to help solve some of the problems that occurred on the K8s platform. In addition, we reduced overall R&amp;D platform costs by at least 5% using the services of Gaia Information. These improvements, when expressed in numbers, may include fewer failures and downtime, as well as higher system efficiency and better cost effectiveness.KryptoGO and Gaia are working together to promote the Web3 industry, from cloud computing infrastructure to our wallet and compliance services, to help more companies build Web3 DApp applications, provide effective support, and work together to face the challenges and grasp the big business opportunities in the development of the meta-universe.To learn more about how to import KryptoGO Compliance and help you optimize your KYC process, please write to us with your requirements and our team will advise you on the most appropriate system setup.&nbsp;[Press contact]&nbsp;KryptoGO Public Relations Manager Ariel Chang / <a href="mailto:ariel@kryptogo.com">ariel@kryptogo.com</a> / +886 931-700-861 &nbsp;

Crypto currency transactions are becoming increasingly prevalent nowadays. Their decentralized characteristics have advantages such as open data, secret transactions, and no need for third-party intervention. However, they also have disadvantages such as unregulated and irrevocable transactions, which are accompanied by potential transaction risks such as fraud and money laundering.

Virtual asset transaction service KYC, AML demand increased! KryptoGO Compliance work with Gaia Information  pioneered regulatory investigation engine

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