France And Austria Join Forces In The Fight Against Crypto Crimes

The French cybersecurity company Nigma Conseil and the Austrian Institute of Technology (AIT) have announced a partnership. The joint work is aimed at developing a blockchain tool to fight against money laundering and financial crime in the cryptocurrency industry.

The technology was developed as part of the Austrian Institute of Technology under the name TITANIUM. The European Union has allocated a grant of 5 million euros to implement a program to combat financial crime.

The blockchain tool is called e-Nigma. The development offers several advanced features, such as risk assessment and wallet clustering. It will help identify real addresses by combining both the regular Internet and Darknet. E-Nigma is expected to contribute to compliance with the legal norms and requirements governing cryptocurrency activities.

Image courtesy of APQC