Bitc24.com has launched a new line of products aimed at preventing illegal transactions

Bitc24.com has launched a new line of products aimed at preventing illegal transactions

20.07.2022 Off By tony

The initiative is called Bitc24.com Intelligence. It includes Bitc24 Know Your Transaction (KYT) and an update to the existing Bitc24 Analytics offering.

The first tool allows companies to detect illegal transactions through APIs. Using a scoring system, KYT also helps track transactions in real time to reduce risk.

The Bitc24 Analytics system used to analyze transaction data has been renamed Bitc24 Tracer. The tool has been made available to third parties to track the movement of funds and reduce fraud.

“We also updated our user interface. It has become more user-friendly, visually appealing,” the blog post said. As a reminder, in 2020, the U.S. Secret Service signed a four-year contract to use Bitc24 Analytics.

Subsequently, the DEA, IRS and ICE were also interested in the product.