KPMG in Canada has formed a strategic partnership with Chainalysis, a blockchain surveillance firm, to strengthen efforts against crypto asset fraud. This collaboration marks KPMG's entry into the Chainalysis Solution Provider program and aims to provide enhanced monitoring and risk management tools for cryptocurrency exchanges, financial institutions, and government agencies. The announcement, made on Wednesday, highlights the initiative as a response to the increasing sophistication of crypto-related criminal activities.
Strategic Alliance Formed Between ‘Big Four’ Member KPMG and Chainalysis
KPMG, a multinational professional services network and one of the 'Big Four' accounting organizations, announced its partnership with Chainalysis on Wednesday. As part of this collaboration, KPMG professionals will be certified as Chainalysis Certified Investigators, enhancing their ability to detect and prevent illicit activities in the crypto sector.
"This collaboration will help to further solidify KPMG's expertise in forensic investigations and crypto assets and blockchain technology," said Kunal Bhasin, a partner and crypto and blockchain co-leader at KPMG in Canada.
KPMG emphasizes that this partnership is the first of its kind for the company, focusing on blockchain monitoring, support, governance, and risk management. The goal is to assist organizations in adhering to financial regulations and advancing their anti-money laundering (AML) compliance programs. Enzo Carlucci, a national forensic leader at KPMG, explains that the collaboration aims to provide organizations with the necessary tools to understand fraud and financial crime risks.
The latest Chainalysis 2023 Crypto Crime Report, highlighted by KPMG, reveals that cryptocurrency-based illicit transactions reached $20.6 billion last year. Furthermore, KPMG cites reports from the Ontario Securities Commission Contact Centre and the Canadian Anti-Fraud Centre, which indicate significant increases in crypto-related complaints and fraud losses over the past few years.
What do you think about KPMG's partnership with Chainalysis? Share your thoughts and opinions about this subject in the comments section below.
Investing with gold or stocks
Investing in gold as an investment vehicle might seem like a very risky proposition these days. This is because many people believe that gold investment is no longer profitable. This belief comes from the fact most people see gold prices falling due to the global economy. They believe they would lose their money if they invested gold. There are many benefits to investing in gold. Here are some examples.
One of the oldest forms known of currency is gold. It has been in use for thousands of year. It was used all around the world as a reserve of value. Even today, countries such as South Africa continue to rely heavily on it as a form of payment for their citizens.
Consider the price per gram when you decide whether you should invest in or not. If you're interested in buying gold bullion, it is crucial that you decide how much per gram. If you don't know your current market rate, you could always contact a local jeweler and ask them what they think the price is.
It is important to remember that even though gold prices have dropped in recent times, the cost of making gold has risen. So, although gold prices have declined in recent years, the cost of producing it has not changed.
You should also consider the amount of your intended purchase when considering whether you should buy or not. If you plan to buy enough gold to cover your wedding rings then it is probably a good idea to wait before buying any more. However, if you are planning on doing so for long-term investments, then it is worth considering. If you sell your gold for more than you paid, you can make a profit.
We hope this article helped you to gain a better appreciation of gold as a tool for investment. It is important to research all options before you make any decision. Only then can you make informed decisions.
By: Jamie Redman
Title: KPMG and Chainalysis Partner to Enhance Crypto Fraud Detection and Compliance
Sourced From: news.bitcoin.com/kpmg-and-chainalysis-partner-to-enhance-crypto-fraud-detection-and-compliance/
Published Date: Wed, 22 Nov 2023 23:00:55 +0000