KPMG Enters into Association with Chainalysis to Fight Crypto Criminal Activities

The Canadian division of KPMG, one of the world’s leading consulting firms, has formed a partnership with blockchain analytics company Chainalysis to assist businesses in combatting fraud and crime within the digital asset industry.

Through this collaboration, KPMG will provide advanced blockchain monitoring, support, governance, and risk management services to help clients comply with changing regulations and enhance their anti-money laundering practices.

KPMG Canada partner and cryptoassets and blockchain co-leader Kunal Bhasin stated that the partnership will strengthen the company’s expertise in forensic investigations and blockchain technology.

This partnership is especially relevant as cyber criminal activity in the digital assets sector continues to increase in both frequency and sophistication.

According to the Chainalysis 2023 Crypto Crime Report, the global volume of illicit cryptocurrency transactions reached a record high of $20.6 billion in 2020.