DMG Blockchain Solutions, a blockchain and crypto company, announced on May the 17th that its Blockchain Forensics & Analytics group is expanding internationally. The enterprise will be offering solutions to several new international auditing and consulting firms.
DMG’s Blockchain Forensics & Analytics group is able to help customers monitor crypto exchanges and payment platforms with the use of artificial intelligence and machine learning. In this way, the group examines the flow of virtual currencies through the blockchain and establishes the provenance and destination of crypto wallet funds.
At the moment, DMG provides analytics support to Bitcoin and Ethereum (including ICOs and ERC-20 tokens), and the intention is to offer its services to Litecoin, Bitcoin Cash, Ripple, and Stellar as well.
Simon Padgett, Director of Forensic Services at DMG Blockchain Solutions, commented:
“We are currently working in China, Panama, Japan and other international markets assisting clients with potentially non-compliant transactions. DMG is also consulting directly with regulators of KYC and AML standards and detection. This is a very time-sensitive business, and we have the tools for real-time analytics. For example, we were recently appointed by MNP, a major auditing firm, to assist with an urgent blockchain audit verification requirement on a very tight deadline.”
DMG is also developing international training sessions to sensitize executives, auditors and compliance employees at different financial firms, about fraud and non-compliance risk in crypto exchanges. As part of its forensic work, they also help institutions to audit blockchain systems and their transactions.
Dan Reitzik, CEO of DMG Blockchain Solutions, said:
“Our Blockchain Forensics & Analytics group is already trusted by major law enforcement and U.S. Federal Government agencies. Now our technology and services are being recognized by top international auditing firms.We believe deeply in the economic value of blockchain technology, and we are proud to be bringing a new level of trust and risk management to help the ecosystem mature.”