Crypto AML Ongoing Monitoring

A one-time Crypto AML check only reflects a wallet's risk at the moment it was screened. Wallet activity can change afterward — new transactions, new counterparties, or new links to illicit sources may emerge. Ongoing Monitoring re-screens wallets daily and automatically alerts you when a wallet meets a rule you've configured, so risk status stays current after the initial check.

Ongoing Monitoring is powered by Bitrank, our third-party crypto risk intelligence partner. Once set up, you'll manage watch lists and alerts directly within Bitrank's platform, under a feature called Address Watch.

How to Start Using

1. Contact us and share your requirements.
2. Blockpass supports you in signing a Bespoke Order Form.
3. Blockpass creates a sub-account with Bitrank and shares access with you.
4. Follow the Core Procedure below to set up your watch list and alert rules.

Core Procedure

1. Export approved wallets

Export the wallet addresses you want monitored from the Blockpass KYC Dashboard (Service Settings > Export data), or pull them via API.

Export data from the KYC Dashboard

2. Add wallets to the CSV template

Add each wallet address to the provided template — ADDRESS_HASH, ADDRESS_LABEL, ADDRESS_TYPE, NOTIFY — and download it as CSV.

Wallet CSV template

3. Log in to Bitrank

Log in to Bitrank using your sub-account credentials, then navigate to Address Watch > My Watch List.

Bitrank dashboard navigation

4. Create an Alert Profile

Under Address Watch > Alert Profiles, select Add New Profile:

Alert Profiles tab

Add a profile name, select cryptocurrency, and configure your filter conditions

Creating an alert profile

• Transaction Amount — trigger on transactions above or below a set threshold, filtered by direction (sending, receiving, or both), currency, and time window (with an option to include ERC20 tokens).
• Counterparty Risk — trigger when a transaction involves a high-risk counterparty.
• BitRank Score Drop — trigger when a wallet's score drops by a set amount, or falls below a set threshold.
• In-Group Transfers — optionally excluded from triggering alerts, to avoid noise from internal wallet-to-wallet movement.

Alerts can be delivered as in-app notifications, email, or both — and set to notify instantly or on another cadence. Then Save.

5. Create a Group and add wallets

Under Address Watch > Groups, create a New Group, assign it the Alert Profile you just created, and set its permission level and Save.

Add wallet: use Manage Watch List > Upload CSV to add your wallet list to the group.

Uploading the watch list CSV

After uploading, your watch list will be populated:

Watch list after upload

6. Get notified

When a watched wallet meets a rule, you'll receive a notification showing the group, the alert profile, and the transaction details that triggered it.

Example notification email

7. Verify and make a decision

Review the alert, then update the user's KYC status in the Blockpass KYC Dashboard based on the new information.

Risk Score Breakdown

Scores range from 0 (highest risk) to 100 (lowest risk), scanned daily:

Customers can also set their own risk threshold to automatically accept or reject wallets, rather than relying on the default breakdown above.

Key Benefits

• Daily Monitoring — risk status is re-checked daily, not just accurate at a single point in time.
• Early Risk Detection — flags new illicit associations as they emerge, without waiting for another manual check.
• Customizable Thresholds — set your own risk threshold to automatically accept or reject wallets.
• Configurable Alerts — get notified only on the conditions that matter to you (transaction size, counterparty risk, score drops).
• Reduced Manual Effort — no need to re-run checks periodically yourself.
• Secure by Design — monitoring data is processed and stored within Bitrank's secure infrastructure; access is controlled strictly by the customer.

To enable Ongoing Monitoring for your account, contact sales@blockpass.org.