Bitcoin News

Samsung Adds Anti-money Laundering Features to its Crypto Wallet

Major smartphone maker Samsung has integrated a cryptoasset anti-money laundering (AML) solution to help boost the security of its Blockchain Wallet, a function of its latest flagship handsets.

Per a blog post from South Korean, Singapore-based software firm Uppsala Security, the company has signed a “Blockchain Service AML Integration Agreement” with Samsung and has “directly linked” its crypto AML solutions “to the Samsung Blockchain Service.”

The move, said Uppsala, will allow Samsung smartphone users to access “real-time threat detection or push notifications triggered by suspicious transactions.”

The AML solution allows users to check on the status of crypto wallet addresses before proceeding with a transfer – to check against a database of interacting with wallets that have been flagged as having possible links to hackers, scammers or known dark web users.

The solution also has a tracking system for customers who believe they have been the victim of fraud or hacking attempts, with monitoring reports Uppsala claims can be handed over to law enforcement agencies for use as evidence.

However, it appears that, for now at least, only customers in select Asian nations will be able to make use of the solution, with Uppsala adding,

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