Crypto Transaction Monitoring Service

Blockpass offers Crypto Transaction Monitoring as an add-on service for Enterprise Corporate customers. This service continuously analyzes large volumes of cryptocurrency transactions across a designated set of wallets to identify and prevent illicit activities such as money laundering and terrorist financing.

Key Features

• Threshold-Based Transaction Monitoring: The service actively monitors all transactions exceeding a pre-defined threshold amount associated with the submitted wallet addresses.
• Wallet Address Risk Scoring Monitoring: Real-time alerts are triggered whenever the risk score of a monitored wallet address falls below a specified threshold, indicating potential suspicious activity.

How it Works

1. Enterprise Onboarding:

• The customer initiates the onboarding process.
• Blockpass assists in configuring the customer's service based on specific KYC rules.
• Crucial Step: Wallet addresses must be collected and verified through Blockpass's Unhosted Wallet KYC service and Crypto AML checks.

2. KYC Verification:

• Users submit their profiles to the service for KYC verification.
• The verification process can be managed by the customer or the Blockpass team depending on the chosen KYC package.

3. Approved Wallet List Export:

• Once verified, Blockpass operators or the customer can export a list of approved wallet addresses from the service dashboard. This list serves as the foundation for the transaction monitoring process.

4. Transaction Monitoring Service Setup:

• Blockpass configures the transaction monitoring service based on the customer's specific requirements:
  • Transaction Amount Threshold: Define transaction amounts that trigger alerts.
  • Risk Scoring Model: Define the risk scoring thresholds used to identify potentially suspicious activity.
  • Alerting Mechanisms: Configure how and when alerts are delivered (e.g., email, in-app notifications, API integration).
  • Upload data: Upload approved wallets to the system to start the monitoring.

5. Continuous Monitoring and Alert Notifications

• The system continuously monitors all transactions associated with the approved wallet addresses.
• The system generates alerts for any activity that meets the predefined criteria (e.g., exceeding transaction thresholds, changes in wallet address risk scores).
• For configuration to receive alerts via email, alerts are initially sent to Blockpass. Then Blockpass forwards these alerts to the customer’s email.

6. Analysis and Action

• Upon receiving an alert, the customer can investigate the flagged transaction and take action following their policy.
• Customers using Managed Service can assign the remediation process to Blockpass.

Get Started with Blockpass

Blockpass offers the Transaction Monitoring service as an add-on Enterprise Corporate service. To use the service, onboard your service under the Enterprise Corporate Plan.

Enterprise Monthly Minimum

Add-ons for Enterprise Corporate

Start onboarding service with Blockpass by following this instruction:

Enterprise Plan - Getting Started with Blockpass: A Simple Guide for Customers

Need Support?

Contact Blockpass to get support at:

• Support Form
• Telegram: @bp_telegram_helpdesk_bot
• Email: sales@blockpass.org