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You are at:Home » TRM Labs integrates Hedera Public Ledger to strengthen AML CFT capabilities
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TRM Labs integrates Hedera Public Ledger to strengthen AML CFT capabilities

AlexaBlockchainBy AlexaBlockchainDecember 22, 2020Updated:January 25, 2025No Comments4 Mins Read
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TRM Labs
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United States, Dec. 22, 2020 /AlexaBlockchain/ – TRM Labs, a cryptocurrency compliance and risk management platform, has integrated with the Hedera public ledger to strengthen its Anti-Money Laundering/ Combating the Financing of Terrorism (AML/ CFT) regulatory requirements features in its platform. Hedera Hashgraph offers enterprise-grade distributed ledger. Moreover, Hedera’s native cryptocurrency, HBAR, is now supported across all TRM solutions, and future assets issued on Hedera will also be supported.

TRM Labs is a cryptocurrency compliance and risk management platform. TRM helps financial institutions prevent cryptocurrency fraud and money laundering, enabling them to meet regulatory requirements and embrace cryptocurrency-related products & partnerships. Users benefit from custom analytics and solutions that allow them to monitor risk, detect financial crime, and strengthen AML/CFT compliance on Hedera.

Esteban Castaño, co-founder and CEO of TRM Labs, said,

“Governments require financial institutions to establish risk-based anti-money laundering programs. Fulfilling these requirements on public ledgers is extra challenging due to the evolving regulatory landscape, technologies, and threat actors. By integrating with Hedera, we offer organizations building on the Hedera network the ability to prevent cryptocurrency fraud and financial crime, enabling our shared goal of building a safer financial system for billions of people.”

TRM specializes in detecting and preventing fraud and financial crime on distributed ledgers. TRM works by analyzing billions of digital asset transactions in real-time, detecting fraud and financial crime, then generating risk scores for relevant addresses, transactions, and entities. This lets enterprises and financial institutions monitor, investigate, and report suspicious activity in real-time, helping them to simplify customer due diligence and meet regulatory requirements.

Sam Brylski, Chief Compliance Officer for Hedera, said:

“TRM’s cryptocurrency compliance and risk management solutions are utilized by leading financial institutions including major exchanges, brokerages, and payment companies across the US, Latin America, Asia, and Europe. We are pleased they now offer their robust compliance and risk management solutions to the wide set of developers and enterprises building mission-critical applications on the Hedera network, many of which must comply with an ever-changing global financial regulatory environment.”

Richard MacNamara, Legal Director at Zain Group, said:

“Hedera’s commitment to compliance was a key factor in our decision to join the Hedera Governing Council. As a member of the Hedera Legal and Regulatory Committee, it is encouraging to see TRM Labs adding the Hedera Network into its suite of compliance tools and an indication of the maturing of the ecosystem. Our prospective use cases rely on the ability to manage risk and we are confident we will be able to do that on the Hedera Network.”

Hedera Hashgraph said in a press release that the TRM Hedera network integration will enable Hedera ecosystem members to access Hedera network data within TRM and leverage the following TRM tools and technologies to comply with AML/CFT regulatory requirements:

  • TRM Transaction Monitoring: Real-time risk scoring of cryptocurrency transactions for AML compliance
  • TRM Wallet Screening: Proactive screening of cryptocurrency addresses for sanctions and AML compliance
  • TRM “Know-Your-VASP”: Comprehensive risk profiles of “Virtual Asset Service Providers” (VASPs) and digital asset businesses
  • TRM Forensics: Investigative tools to trace the source and destination of funds and link addresses to real-world entities

As a result, market participants will be able to interact with the Hedera network with compliance peace of mind:

  • Exchanges can list HBAR and use TRM Transaction Monitoring for AML compliance
  • Asset issuers can safely mint and redeem tokens on Hedera and use with TRM Transaction Monitoring Forensics for AML compliance
  • Custodians canstore HBAR and useTRM Wallet Screening for sanctions compliance
  • Banks can provide services to enterprises utilizing the Hedera network, and use TRM “Know-Your-VASP” for due diligence requirements
  • Regulators can monitor activity on the Hedera network with TRM Forensics

The Hedera and TRM Labs integration sets the foundation for additional AML initiatives, including linking transactions across public DLTs and using Hedera as a high-throughput message queue to track assets across chains.

Last month, TRM Labs raised US$4.2 million in funding from Initialized Capital, Blockchain Capital, PayPal Ventures and Y Combinator, bringing the total raised fund in its seed round to US$5.9 million.

Blockchain Industry Blockchain Technology Cryptocurrency TRM Labs
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