Nets & Chainalysis collaborates to help banks meet AML rules on virtual currencies

Nets and Chainalysis has entered a partnership in order to help banks meet anti-money-laundering (AML) rules on virtual currencies – a growing challenge for banks as popularity of bitcoins as a mean of payment has risen significantly in recent years.

Chainalysis has been very successful in helping investigatory authorities’ worldwide in analyzing bitcoin payments and validating whether they comply with AML legislation. Chainalysis’ tool will become a part of Nets Fraud & Disputes Services portfolio which will help banks analyze, discover and identify fraudulent payments.

Several of our customers among the Nordic banks have been looking for an effective tool to assist them in complying with legislation. In fact, I believe many banks have held back on facilitating Bitcoin payments because they didn’t have the tool we are now able to offer them,” Nets’ Head of Fraud & Dispute Services Kati Rintala comments.

We at Copenhagen FinTech would like to congratulate both Chainalysis (Copenhagen FinTech Lab residents) and Nets (Copenhagen FinTech partners) on the partnership and we’re happy to see an increase in collaborations in the Danish fintech ecosystem!

See full press release from Nets here


Read also about the previous collaboration between Copenhagen FinTech partners and residents: “Ernit and Spar Nord collaboration