Russia launches a service to track fraudulent and criminal crypto transactions
“SHARD” can be used by both individuals and corporate clients
18.01.2023 - 15:00
306
2 min
0
What’s new? Russia has launched a cryptocurrency asset analytics service called “SHARD.” It is developed using machine learning and artificial intelligence technologies in order to solve urgent problems in the financial sector for individuals and corporate clients. The service identifies fraudulent transactions and cryptocurrencies on the most popular blockchains and allows one to request analytical support and legal assistance from experts.
What else is known about the service? With “SHARD,” users can conduct a quick check of crypto credentials to establish counterparty identity (KYC) as well as compliance with measures to combat money laundering and terrorist financing (AML/CFT). The service also identifies transactions and addresses involved in illegal activities. It uses proprietary developments and a database located on servers in the Russian Federation.
Grigory Osipov, Director of Investigations at SHARD, said that the service allows protecting ordinary users and companies from loss of funds and accusations of involvement in fraudulent transactions when receiving funds from dubious sources to their crypto wallets.
In February, the project’s team plans to introduce a paid subscription to services, but in the meantime, service features can be tested for free in the first month after its launch by registering on the site.
In December 2022, the Ministry of Interior of Russia implemented a digital service “Personal account of the law enforcement body” and connected to it the employees of the agency. The tool successfully functions and demonstrates positive results in identifying unscrupulous owners of crypto wallets.
Useful material?
Telegram 
Twitter Technologies
Network fees will be integrated into the cost of swaps
Nov 22, 2024
Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Cryptocurrency rates
-
Bitcoin
$98 808
BTC
+0.45%
-
Ethereum
$3 346.53
ETH
-0.03%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.59
XRP
+25.24%
-
Dogecoin
$0.411999
DOGE
+6.82%
-
Cardano
$1.08
ADA
+32.12%
-
Stellar XLM
$0.391316
XLM
+42.45%
-
Polkadot
$6.82
DOT
+15.28%
-
Bitcoin Cash
$493.7
BCH
+0.72%
-
Litecoin
$93.26
LTC
+4.48%