People use crypto exchanges like banks to deposit and store their money. Crypto exchanges have to implement AML rules and controls just like other financial players. The powerful API support of Sanction Scanner automates the AML compliance processes of crypto exchanges.
CryptoCurrency means fast. When you promise to your customers for fast trading but they will face hesitation when their registration process or transactions stopped for eligibility. With Sanction Scanner's powerful and flexible APIs when reducing false positives and manual operations you can give a seamless experience to customers.
Cryptocurrency and Crypto exchange regulations are on the rise. Some of the noise is gossip, but some point to important topics in the crypto industry. Countries together with their regulatory bodies started to taking action to protect the crypto market. As a result of these new laws, the life of crypto companies got harder, but not impossible. They have to implement some rules like banks or other financial industry players.
Organizations serving in the crypto industry are required to fulfill their AML and KYC obligations during the customer account opening processes. With AML Screening Software, crypto exchanges can scan their customers in more than two hundred countries' sanctions, PEP, and Adverse Media data. The crypto industry has to comply with its AML and KYC obligations to avoid AML penalties.
Head of Operations at Eksit.com
Sanction Scanner provides fast solutions, fair price, and safety for our company. We can scan the receiver and sender in current sanction and PEP data in seconds. With the API, we perform the entire control process automatically without delaying customer transactions.
Eksit.com is one of the exchanges of the growing cryptocurrency industry. Eksit.com is ready for new AML regulations with Sanction Scanner. This case study contains information on how the Sanction Scanner supports AML processes of crypto exchanges.