Hitachi Unveils Commercial Crypto Asset AML Monitoring Service in Japan
Hitachi has launched a commercial crypto asset Anti-Money Laundering (AML) monitoring service in Japan, dubbed the 'Digital Asset AML Platform.' This platform aims to provide unified pre- and post-transaction surveillance, as well as circulation monitoring for crypto assets and stablecoins.
The service, which began offering on October 1, is designed for financial institutions and crypto asset exchange operators. It consists of three main functions: 'online instant evaluation,' 'post-transaction monitoring,' and 'token monitoring.' These functions leverage external blockchain analytics data, sanctions and crime-related information, and AI and machine learning-based analysis of transaction behavior to capture suspicious fund movement patterns.
One of the unique features of Hitachi's service is its ability to share risk information among participating businesses. This allows for the detection of suspicious transactions that individual firms may struggle to identify on their own.
Hitachi's decision to commercialize the service is rooted in the rapidly strengthening regulatory environment surrounding crypto assets. In Japan, the Financial Services Agency has issued cabinet orders and ministerial ordinances under the Amended Payment Services Act, which took effect on June 1.