{"id":5880,"date":"2021-05-05T17:13:56","date_gmt":"2021-05-05T17:13:56","guid":{"rendered":"https:\/\/www.sygna.io\/?p=5880"},"modified":"2021-05-06T06:56:45","modified_gmt":"2021-05-06T06:56:45","slug":"coolbitx-comply-advantage-partnership-sygna-gate-identification-of-sanction-lists","status":"publish","type":"post","link":"https:\/\/www.sygna.io\/jp\/blog\/coolbitx-comply-advantage-partnership-sygna-gate-identification-of-sanction-lists\/","title":{"rendered":"Sygna Bridge and ComplyAdvantage to Partner For FATF-Adhering Identification of Sanction Lists"},"content":{"rendered":"\n<p><em>New bundle product Sygna Gate enables VASPs to identify red flag indicators in accordance with FATF guidance, together with Travel Rule compliance and blockchain analysis<\/em><\/p>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<div style=\"height:28px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><strong>Taipei, Taiwan \u2014 6 May 2021<\/strong> \u2014 <a href=\"https:\/\/coolbitx.com\/\">CoolBitX<\/a>, the international blockchain security company, and creators of <a href=\"http:\/\/sygna.io\">Sygna Bridge<\/a>\u2014today announces its partnership with <a href=\"https:\/\/complyadvantage.com\/aml-data\/sanctions-watchlists-screening\/\">ComplyAdvantage<\/a>, a global data &amp; technology company transforming financial crime detection, to offer an all-in-one solution that aims to simultaneously meet FATF&#8217;s <a href=\"http:\/\/www.fatf-gafi.org\/publications\/methodsandtrends\/documents\/virtual-assets-red-flag-indicators.html\">sanctions guidance <\/a>and <a href=\"https:\/\/www.fatf-gafi.org\/media\/fatf\/documents\/recommendations\/RBA-VA-VASPs.pdf\">&nbsp;Travel Rule recommendations<\/a> for the virtual asset industry.<\/p>\n\n\n\n<p>The joint AML solution bundles counterparty information-sharing with sanction screening in real-time\u2014including <a href=\"https:\/\/www.sygna.io\/blog\/what-is-aml-kyc-in-crypto\/\">Politically Exposed Person (PEP)<\/a> screening, and adverse media listing\u2014and will be integrated with <strong>Sygna Gate<\/strong>, a new compliance solution that includes additional transaction monitoring and blockchain analytics solutions from leading industry solution providers. <\/p>\n\n\n\n<p>Sygna Gate will be available from June 26th, 2021.<\/p>\n\n\n\n<p>The launch of Sygna Gate builds upon the recent release of <a href=\"https:\/\/www.sygna.io\/blog\/coolbitx-elliptic-sygna-bridge-launch-wallet-adress-filter-api-for-private-wallet-screening-api-service\/\">Sygna Bridge Wallet Filter API<\/a>, a joint solution with transaction monitoring provider <a href=\"https:\/\/www.sygna.io\/blog\/coolbitx-elliptic-sygna-bridge-launch-wallet-adress-filter-api-for-private-wallet-screening-api-service\/\">Elliptic<\/a> that distinguishes between custodial and private wallet addresses, facilitating identification of VASP-to-unhosted wallet transactions.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Key Features<\/h2>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>The solution includes the following features:<\/p>\n\n\n\n<ol class=\"wp-block-list\"><li><strong>Browser Dashboard<\/strong> \u2014 Control and manage all AML processes in one single integration-free interface.<\/li><li><strong>Interoperable Travel Rule Compliance <\/strong>\u2014 Help exchange the required information across Travel Rule protocols.<\/li><li><strong>Sanction Screening Integration<\/strong> \u2014 Automatically screen against global sanction lists after the exchange of the required Travel Rule data.<\/li><li><strong>Blockchain Analytics Integration <\/strong>\u2014 Identify transaction risks and hosted wallets for different compliance needs.<\/li><\/ol>\n\n\n\n<div style=\"height:28px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Comments<\/h2>\n\n\n\n<div style=\"height:28px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><strong>Michael Ou, CEO of CoolBitX<\/strong> said: <\/p>\n\n\n\n<div style=\"height:28px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-medium is-resized\"><img decoding=\"async\" src=\"https:\/\/www.sygna.io\/wp-content\/uploads\/2021\/05\/Michael-e1550096357261-600x349.jpeg\" alt=\"\" class=\"wp-image-5883\" width=\"504\" height=\"293\" srcset=\"https:\/\/www.sygna.io\/wp-content\/uploads\/2021\/05\/Michael-e1550096357261-600x349.jpeg 600w, https:\/\/www.sygna.io\/wp-content\/uploads\/2021\/05\/Michael-e1550096357261-1024x595.jpeg 1024w, https:\/\/www.sygna.io\/wp-content\/uploads\/2021\/05\/Michael-e1550096357261-768x446.jpeg 768w, https:\/\/www.sygna.io\/wp-content\/uploads\/2021\/05\/Michael-e1550096357261.jpeg 1200w\" sizes=\"(max-width: 504px) 100vw, 504px\" \/><\/figure><\/div>\n\n\n\n<div style=\"height:28px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u201c<em>While we believe that regulation in the digital asset industry will accelerate the rate of adoption globally, crypto businesses and VASPs today are met with vast regulatory requirements and due diligence procedures that puts a strain on their operations. <\/em><\/p><p><em>Sanction screening\u2014along with transaction monitoring, Travel Rule data collection, and other crypto KYC requirements\u2014form an integral part of AML\/CFT compliance, and are an increasing necessity for our VASP customers. With ComplyAdvantage partnering with Sygna Gate, we can now help meet the compliance needs of VASPs in an all-in-one solution, with minimal integration effort and cost.\u201d<\/em><\/p><\/blockquote>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><strong>Jaede Tan, Managing Director in Asia-Pacific for ComplyAdvantage<\/strong> said:<\/p>\n\n\n\n<div style=\"height:28px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><img decoding=\"async\" width=\"500\" height=\"300\" src=\"https:\/\/www.sygna.io\/wp-content\/uploads\/2021\/05\/Jaede_Tan_ComplyAdvantage_1.jpeg\" alt=\"\" class=\"wp-image-5884\"\/><\/figure><\/div>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><em>\u201cWe are delighted to be partnering with Sygna to support the AML\/CFT compliance processes of crypto businesses and VASPs with robust AML data and technology. <\/em><\/p><p><em>Financial crime is a rapidly evolving space and nefarious actors continue to find new ways to exploit the financial system, so the partnership will allow us to provide best-in-class technology to VASPs, enabling them to satisfy their evolving regulatory requirements and stamp out financial crime.\u201d<\/em><\/p><p><\/p><\/blockquote>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Interested parties can contact either CoolBitX or ComplyAdvantage for a trial.<\/p>\n\n\n\n<p><strong>Sygna:<\/strong> <a href=\"mailto:services@sygna.io\">services@sygna.io<\/a><\/p>\n\n\n\n<p><strong>ComplyAdvantage:<\/strong> <a href=\"mailto:contact.sg@complyadvantage.com\">contact.sg@complyadvantage.com<\/a><\/p>\n\n\n\n<p>Michael Ou, CEO of CoolBitX is available for media interviews.<\/p>\n\n\n\n<div style=\"height:28px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>About CoolBitX<\/strong><\/h3>\n\n\n\n<div style=\"height:28px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>CoolBitX Ltd. (CBX) is an international blockchain security company building the next-generation infrastructure necessary to maximize digital asset adoption. Founded in 2014 by Michael Ou and backed by SBI Holdings, CoolBitX provides solutions for a rapidly-changing blockchain industry in order to foster the mass adoption of virtual assets through its two product lines: CoolWallet S and Sygna. CoolWallet S is a credit card-sized hardware wallet that allows for Bluetooth-enabled pairing with users\u2019 mobile phones. The Sygna line of regulatory compliance products are tailored toward Virtual Asset Service Providers (VASPs), simplifying the compliance efforts of VASPs through the use of effective and secure technology. For more information on CoolBitX, visit <a href=\"https:\/\/coolbitx.com\/\">https:\/\/coolbitx.com\/<\/a>.<\/p>\n\n\n\n<div style=\"height:28px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>About Sygna Bridge<\/strong><\/h3>\n\n\n\n<div style=\"height:28px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Sygna Bridge is a user friendly, and secure data exchange compliance solution that allows Virtual Asset Service Providers (VASPs) to comply with data exchange regulation. For VASPs licensed or registered in any of the 200 global jurisdictions committed to FATF Recommendations, Sygna Bridge is a first-to-market solution that simplifies the complex and labor-intensive task of meeting the &#8220;travel rule&#8221; requirements as defined in FATF Recommendation 16. As a testament to meeting the highest level of information security, Sygna Bridge has achieved the ISO\/IEC 27001 certification, a globally recognised standard for Information Security Management System (ISMS) in April 2021. For more information on Sygna, visit <a href=\"https:\/\/sygna.io\/\">https:\/\/sygna.io\/<\/a> and for more information on CoolBitX, visit <a href=\"https:\/\/coolbitx.com\/\">https:\/\/coolbitx.com\/<\/a>.<\/p>\n\n\n\n<div style=\"height:28px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>About ComplyAdvantage<\/strong><\/h3>\n\n\n\n<div style=\"height:28px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>ComplyAdvantage is the financial industry\u2019s leading source of AI-driven financial crime risk data and detection technology. ComplyAdvantage\u2019s mission is to neutralize the risk of money laundering, terrorist financing, corruption, and other financial crime. <\/p>\n\n\n\n<p>More than 500 enterprises in 75 countries rely on ComplyAdvantage to understand the risk of who they\u2019re doing business with through the world&#8217;s only global, real-time database of people and companies. The company actively identifies tens of thousands of risk events from millions of structured and unstructured data points every single day. ComplyAdvantage has four global hubs located in New York, London, Singapore and Cluj-Napoca and is backed by Ontario Teachers\u2019, Index Ventures and Balderton Capital. Learn more at <a href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fcomplyadvantage.com%2F&amp;esheet=52255963&amp;newsitemid=20200728005058&amp;lan=en-US&amp;anchor=complyadvantage.com&amp;index=4&amp;md5=d0e001647e3170817c82b2dc2bdd4062\">complyadvantage.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New bundle product Sygna Gate enables VASPs to identify FATF red flag indicators, Travel Rule compliance and blockchain analysis.<\/p>\n","protected":false},"author":7,"featured_media":5897,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[26,37,66],"tags":[],"class_list":["post-5880","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-blog-posts","category-fatf-travel-rule"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Sygna Bridge and ComplyAdvantage to Partner For FATF-Adhering Identification of Sanction Lists - 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