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Sumsub biometrics secure Blackmoon cryptocurrency exchange environment


AI-based AML and KYC provider Sumsub has partnered with Blackmoon to ensure AI-based compliance with FATF guidelines for a secure crypto to fiat exchange environment, the company announced.

Sumsub automates identity verification and anti-fraud processes with facial recognition, as well as provides bank-grade KYC (including STOs), KYB, KYT compliance, AML screening, customer data storage to protect and enable regulated businesses online.

Under the partnership, financial technology company Blackmoon will ensure a secure investment and currency exchange process for investors. Sumsub’s solution will deliver compliance with regulatory requirements, AML laws and fraud protection to ensure top security.

Developed in 2017, Blackmoon’s investment platform allows crypto investors to access traditional markets without leaving the blockchain ecosystem, and “is built in line with the highest security standards,” Blackmoon claims. Users now have the opportunity to trade more than 50 assets and 200 trading pairs (including fiat pairs).

“Regulatory and AML compliance is the foundation for a long-term success and a core value of Blackmoon. AML prevention continues to be the greatest challenge for the blockchain industry and the most serious concern for the competent authorities,” said Anna Cox, chief compliance officer at Blackmoon. “We firmly believe that market participants play a vital role in building the regulatory confidence by introducing and implementing compliance solutions as innovative as the industry itself.”

“In recent years the demand for compliance and anti-fraud increased as businesses are being put under the magnifying glass of strict regulatory commissions, and criminals use businesses as…intermediaries to launder their money,” said Sumsub Co-founder Jacob Sever. “Both checks have crucial importance for the legality and therefore for the life expectancy of any company. As the environment is getting more and more transparent, everybody chooses to be compliant, taking care of their finances and protecting the personal data of their users. Blackmoon is one of the companies who puts compliance forward.”

This month, Sumsub signed a strategic partnership with trading company Exness to improve fraud protection and global AML compliance through its facial biometric customer onboarding and KYC and AML compliance tools, the company announced.

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