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French FinTech NIGMA Conseil and AIT partner to fight financial crime

FinTech NIGMA Conseil, a French blockchain security company, and the AIT Austrian Insititute of Technology, a government-owned research and technology institute, have entered into an agreement to combat cryptocurrency and financial crime.

Fabien Tabarly, CEO of NIGMA Conseil said, “The synergy between a leading European academic research institute and our team of developers has been instrumental in implementing the most innovative tools to fight financial crime in virtual currencies.”

The organisations state that they have been working towards enhancing the e-NIGMA platform’s blockchain analytics and AML capacities by building on AIT’s open-source cryptocurrency forensics platform GraphSense. e-NIGMA SaaS platform is a blockchain forensics tool for KYC/AML compliance, transaction monitoring, due diligence investigations, wallet clustering and customised API integration.

NIGMA Conseil is a FinTech startup based in France with an aim to propose and implement tailored solutions in the fields of business investigations and blockchain forensics. It has developed an exhaustive and affordable compliance platform for this purpose, called e-NIGMA.

AIT is a specialised research and development partner with its activities delving into virtual currencies and blockchain technology and concentrating in the Data Science research group at the Center for Digital Safety & Security. The AIT-led TITANIUM program for the Investigation of Transactions in Underground Markets has received a €5 million H2020 funding from the European Union to mitigate cryptocurrency crime. Its GraphSense algorithmic solution for the real-time analysis of virtual currency transactions is used by NIGMA to track suspicious transaction activities.

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