Coinspeaker
AOFEX Strengthens AML System and Makes Efforts to Prevent Suspicious Capital Inflows

Recently, the prices of mainstream digital currencies have been up and down. Even under the consistent and significant positive sentiment and stimulation, the whole market is still volatile. Because of this, some analysts argue that even though no one can be entirely certain, there is a large amount of illegal funds being circulated in the sector.

These illegal endeavors include some runaway fund-raising projects, digital currency stolen by hackers from exchanges, encrypted assets raised by terrorist organizations for terrorist attacks, bribery, extortion, and tax evasion. All of these have a strong need for money laundering which is more easily done using digital currencies.

It is estimated that the total value of these digital assets may be as high as $10 billion, and the possible crushing capital and liquidation that could result will be strong enough to trigger markets into panic mode.

According to PeckShield, there have been recent reports of suspicious BTC, XRP, and EOS transactions and these have been linked to frequent money laundering operations. Some of these funds are also sold from OTC channels and are then re-entered into exchanges such as Binance.

Exchanges are a vital part of the digital currency industry and they play a very important role in asset flow, value anchoring and are great market trend indicators as well. These roles make them very easily become targets for criminals who need to carry out illegal activity like registering an account with false information and then using such accounts for fraud, money laundering and other kinds of attacks on exchanges. These illicit actions, especially in large scale, could manipulate the market and have a great negative impact on the digital currency sector in general.

Though blockchain is known for its anonymity and decentralization, the users of this technology and of digital coins by extension, have a right to legal protection. Regardless, it could be significantly challenging to ensure that all asset holders enjoy this right. This is why exchanges now want to collaborate with regulatory authorities in several different jurisdictions, to protect users and improve security for some of the asset holders as well as their respective cryptocurrencies.

Since the incident, AOFEX exchange has been on high alert to prevent inflows of funds involved.

Located in London, United Kingdom, AOFEX is a digital asset exchange with non-standardized option trading as its core function and is open to global users. AOFEX has a bank-level security risk control system and technology to fully guarantee fairness of transactions and provide users with quality service. It not only provides users with very reliable security, but also significantly improves user trading experience.

The core team of AOFEX has been deeply engaged in the fintech sector for many years, providing strategic planning for a large number of high-tech enterprises and core services for many financial institutions. The AOFEX team has a very strong global strategic operation capability, as well as rich experience in financial risk control and management.

AOFEX uses the world’s top traditional bank financial risk control system, adopts multiple underlying security technologies, establishes internal supervision and an early warning system, as well as sets up a risk reserve mechanism to provide users with a more secure encrypted crypto trading environment.

It’s also in collaboration with the new policy of the International Intergovernmental Financial Action Task Force on Money Laundering (FATF) to set up a special anti-money laundering team and introduce a series of anti-money laundering (AML) safeguards.

AOFEX has also reached a strategic agreement with experts in the field of blockchain security and is at the forefront position in the industry, especially in the areas of user asset security, anti-fraud, international anti-money laundering, and anti-terrorism financing.

All of these are done to better protect investors’ interests, allow users to trade freely in a safe and fair environment, gain benefits from the development of the blockchain industry, and also select the most recognized technology and teams to contribute to industry evolution as well as changing the whole world with blockchain technology.

AOFEX will continue to upgrade and make efforts to protect users’ asset safety and prevent financial crimes, so as to deliver safer, professional and convenient services to investors.

AOFEX Strengthens AML System and Makes Efforts to Prevent Suspicious Capital Inflows

Similar to Notcoin - Blum - Airdrops In 2024

origin »

189 +