We chose Chainalysis due to them being the best of breed in coverage of data and forensic investigation tooling. Chainalysis has been a huge game-changer for us.”
– Eva Crouwel, Head of Financial Crime, Luno
Luno is a leading global cryptocurrency company on a mission to upgrade the world to a better financial system. Luno’s products and services make it safe and easy to buy, sell, store and learn about cryptocurrencies like Bitcoin and Ethereum
To achieve world-class compliance, Luno recognized the need for an on-chain monitoring solution for their blockchain transactions. They wanted the best in the industry to partner with them to be able to offer a risk-based approach to crime mitigation, thereby building trust with their customers.
Luno selected Chainalysis Know Your Transaction (KYT) to monitor their crypto transactions and detect potential bad actors, and Chainalysis Reactor to investigate and combat money laundering, terrorist financing, and sanctions.
There seems to be coverage 24 hours a day, and we joke ‘do you guys ever sleep?’”
Luno takes pride in registering and obtaining a license in every country where it is required and adhering to Financial Crime regulations in all markets where we operate. One of the requirements from a regulatory framework point of view is to be able to monitor and act upon transactions that have a suspicion of money laundering, terrorist financing, sanctions, or any other type of illicit activity. This is virtually impossible to do as a company ourselves. The technology required to monitor on-chain transactions, as well as the design and the development of case management and user interface (UI), is a massive undertaking. Therefore, to meet compliance requirements to the best of our capabilities, we decided to select a partner as an on-chain monitoring solution for our blockchain transactions.
We chose Chainalysis due to them being the best of breed in two main areas: