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KPMG in Canada and Chainalysis team up to help organizations combat illicit crypto transactions

With the ongoing threat of crypto fraud and criminals growing more sophisticated every day, organizations need ever-powerful solutions to help them investigate and recover stolen funds. KPMG in Canada and Chainalysis are teaming up to help meet that growing need by announcing a strategic agreement in which KPMG will join the Chainalysis Solution Provider program. 

The collaboration advances the certification of KPMG professionals as Chainalysis Certified Investigators, which enhances their ability to assist clients across public sector agencies and private sector businesses to detect and prevent illicit activity related to cryptoassets.  “Our clients look to us as trusted advisors in the cryptoasset space, and our relationship with Chainalysis is a commitment to helping those clients be more agile, innovative and compliance-focused in an ecosystem that’s constantly evolving. This collaboration will help to further solidify KPMG’s expertise in forensic investigations and cryptoassets and blockchain technology,” said Kunal Bhasin, partner and Cryptoassets and Blockchain co-leader at KPMG in Canada. 

The combination leverages the expertise of both firms to provide enhanced blockchain monitoring, support, governance and risk management to help organizations adhere to evolving cryptoasset regulations and advance their Anti-Money Laundering Compliance programs. KPMG is the first Canadian professional services firm to team up with Chainalysis on forensic investigation services.

“Cryptoasset exchanges, crypto-native companies, financial institutions, government and law enforcement agencies are increasingly looking for innovative ways to help them “follow the crypto” to investigate criminal activity. By teaming up with Chainalysis, KPMG clients can benefit from Chainalysis’ proprietary blockchain data monitoring technology, resulting in improved identification of potentially criminal activities and faster response times. Addressing and reporting criminal activities quickly can be challenging for organizations, but this collaboration helps address that. Together we’re providing clients with a comprehensive understanding of fraud and financial crime risks, and knowledge to help them make well-informed decisions quickly and effectively,” says Enzo Carlucci, National Forensic Leader at KPMG in Canada

“By teaming up with one of the Canada’s largest professional services firms, our clients can leverage the expertise of KPMG’s trusted forensics and cryptoasset advisory professionals to establish effective know your transaction (KYT) rules, stronger anti-money laundering protocols and robust investigation strategies. Layering KPMG’s extensive knowledge and experience in cryptoasset financial crimes over our platform’s industry-leading risk capabilities will help provide organizations with a more comprehensive approach to mitigating fraud risks in crypto transactions,” says Jonathan Levin, Chainalysis Cofounder and Chief Strategy Officer.

Cryptoasset fraud has grown over the last few years as crypto ownership has increased. Globally, cryptocurrency-based illicit transaction volume hit an all-time high of US$20.6 billion last year, according to the Chainalysis 2023 Crypto Crime Report. The Ontario Securities Commission Contact Centre has seen a 200 per cent increase in crypto-related complaints since 2020, and the Canadian Anti-Fraud Centre received 92,078 reports of fraud in 2022, with a reported $531 million in losses, up from $379 million in 2021 and $165 million in 2020.

About KPMG Canada 

KPMG LLP, a limited liability partnership, is a full-service Audit, Tax and Advisory firm owned and operated by Canadians. For over 150 years, our professionals have provided consulting, accounting, auditing, and tax services to Canadians, inspiring confidence, empowering change, and driving innovation. Guided by our core values of Integrity, Excellence, Courage, Together, For Better, KPMG employs more than 10,000 people in over 40 locations across Canada, serving private- and public-sector clients. KPMG is consistently ranked one of Canada’s top employers and one of the best places to work in the country. 

The firm is established under the laws of Ontario and is a member of KPMG’s global organization of independent member firms affiliated with KPMG International, a private English company limited by guarantee. Each KPMG firm is a legally distinct and separate entity and describes itself as such. For more information, see 

About Chainalysis

Chainalysis is the blockchain data platform. We provide data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies in over 70 countries. Our data powers investigation, compliance, and market intelligence software that has been used to solve some of the world’s most high-profile criminal cases and grow consumer access to cryptocurrency safely. Backed by Accel, Addition, Benchmark, Coatue, GIC, Paradigm, Ribbit, and other leading firms in venture capital, Chainalysis builds trust in blockchains to promote more financial freedom with less risk. Learn more at, or connect on LinkedIn and Twitter.