Cylynx is Shortlisted as a G20 Techsprint Finalist
The G20 TechSprint initiative, aims to highlight the potential for technologies to resolve regulatory compliance and supervisory challenges. Team Cylynx is shortlisted as one of the finalists in the problem statement of monitoring AML/CFT risks on crypto assets.
August 15, 2020 · 1 min read
How can AI (artificial intelligence), ML (machine-learning), data visualisation tools and other technologies help financial institutions conduct better monitoring and report suspicious activities in more timely and accurate manner for AML/CFT purposes, as well as help crypto assets service providers comply with AML/CFT regulations?
From a pool of 128 submissions across 35 countries, Cylynx was shortlisted as one of the finalists for the G20 techsprint initiative, organized by the Saudi G20 Presidency and the Bank for International Settlements Innovation Hub.
Cylynx presented our vision of cryptocurrency monitoring to a panel of private and public sector experts in the field of financial sector data and technology.
A sample of our solution, modelled on the Upbit hack, where 45 million USD was laundered by suspected North Korean agents, can be seen below:
For more information on the G20 Techsprint Intiative, please refer to: https://www.bis.org/press/p200810.htm