Chennai: WazirX has announced its collaboration with TRM Labs, a leading blockchain analytics provider, to enhance anti-money laundering and anti-fraud measures for transactions conducted on the platform.
“TRM Labs provides a full-service platform for crypto compliance and risk management, including tools for wallet screening, transaction monitoring and investigations,” said a release.
Indian authorities have previously expressed concern that crypto assets could be used for criminal activity such as money laundering and funding terrorism, signalling the importance for exchanges like WazirX to demonstrate a robust capability to detect and prevent illicit activity from occurring on its platform.