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20181220 GlobalKYC - Suspicious Crypto Asset Register

PleaseBeInformed.com, published by Vortex Centrum Limited, publishers, UK, part of The Anti Money Laundering Network group of companies announces the next stage in the fight against the use of crypto-currencies such as bitcoin for criminal purposes. It is simple, elegant and provides information, in near real-time, of criminal activities using crypto-asset "wallets." Best of all, in harnesses the power of the internet to crowd-source that information and to make it available to law enforcement, transaction exchanges and, of course, possible future victims.

Just think: you receive an email containing a threat if you do not make a transfer to a particular crypto-currency account within a set time.

Some of those threats, those where your computer has been compromised by malware that has locked you out, are real but the vast majority of them are chancers, trying to trick you into believing that they have used your e-mail account to grab access to your camera and they've filmed you doing the one-handed tango, or something.

There are a number of common features of those: the first is that they are technically quite clever but not brilliant. The second is that there are common words and phrases. The third is that they demand payment of an amount in bitcoin (they could chose any one of many others but they don't) and that they want you to pay money into that account within a couple of days.

GlobalKYC Suspicious Cryto-Asset Register deals with this by the simple expedient of providing the world with a means of making known the wallet ID within seconds of those e-mails hitting the email accounts of proposed victims. This means that exchanges and the authorities can act to prevent those accounts being used either to collect money or, even, as an instant laundering tool (money in is immediately sent out to another account, for example).

Also, with sufficient data, it is possible to identify patterns in the IP addresses that the criminals use at various points in the cycle of their frauds and extortion attempts. That information is in the header of the e-mails you receive.

So, basically, we are asking everyone to help everyone else. We've seen TV programmes about crowd-sourcing information about crimes, Interpol has begun to use crowd-sourcing to help identify locations used by criminals for committing sexual offences against minors and now, as an adjunct to the world's only crowd-sourced database of freezing, seizing and confiscation orders, GlobalKYC.com's Suspicious Crypto Asset Register (which, incidentally, contains no personal identifiers for data protection / GDPR purposes) is the first step in the fight-back.

 


 

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