E-commerce anti-fraud provider IdentityMind announced yesterday that it picked up its 25th virtual currency client.
Palo Alto-based IdentityMind has virtual currency clients on four continents, and serves a variety of Bitcoin businesses including major exchanges, financial services, gift cards, payment services, wallet hosting, and Bitcoin ATMs.
The IdentityMind platform uses the company’s proprietary eDNA technology to share payment and reputation data across the entire client network, with data from each additional client improving the platform’s accuracy and ability to reduce risk for all clients.
“We’re proud to be providing this industry with the affordable tools they need to operate legally in the U.S. and abroad. We made our commitment to the industry earlier this year and will continue to support it as it grows.” said Garrett Gafke, President & CEO of IdentityMind. “We’re constantly innovating and improving our platform to facilitate worldwide compliance for companies of all sizes. Our latest release adds the ability to expedite SAR filing to FinCEN from inside our Platform, making financial crime analysts more productive and effective in their work.”
IdentityMind has also developed programs specifically for Bitcoin clients. IdentityMind’s Ignite provides the anti-money laundering support for Bitcoin companies, including “know your customer” and transaction monitoring services starting at $150 per month for the first six months, and a single integration point to access 15 third-party providers of data and technology.
The company also provides Ignite-BTM, a fast compliance solution, for Bitcoin ATM operators worldwide. Three of the largest Bitcoin ATM manufacturers, representing 60% of the market, have already integrated with IdentityMind, according to the company.