Deloitte Partners with Chainalysis to Enhance Blockchain Tracking Capabilities

Deloitte will tap into Chainalysis' blockchain datasets, analytics software, and training programs.

Announced at a Chainalysis conference in Washington DC on July 25, this collaboration aims to support Deloitte's clients, including law enforcement agencies, regulators, and financial institutions, in their crypto forensic, investigative, and compliance efforts.

Chainalysis' President and Chief Revenue Officer, Thomas Stanley, highlighted the focus on regulators, law enforcement, and financial institutions as these entities adopt blockchain technology.

"For law enforcement agencies, regulators, and financial ecosystem players across the nation, the alliance offers new, collaborative solutions that help identify transformation gaps, accelerate mission success at enterprise scale, and mitigate risk while increasing revenue"

The partnership will initially roll out in the United States.

Deloitte acknowledges the challenges faced by government agencies in a report, particularly when cryptocurrencies are utilized to obscure transactions and launder illicit proceeds.

Additionally, the complex international regulatory landscape makes it difficult to access information from foreign exchanges.

Through the collaboration, Deloitte and Chainalysis aspire to identify the actors behind blockchain activities and facilitate effective prosecution.

By tracing the flow of funds to high-risk or sanctioned entities, the partnership can assist in combating financial crimes.

On the other hand, Chainalysis will collaborate with Deloitte's blockchain and digital assets practice, contributing to various aspects such as cryptocurrency and digital asset risk, analytics, investigations, anti-money laundering/know your customer (AML/KYC) measures, and regulatory compliance.