New system tracks blockchain money laundering faster and more accurately. (VIDEO)
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The system, called SynapTrack, provides a next-generation anti-money laundering framework for blockchain systems, with automatic adaptation to new criminal tactics. It enables faster and more accurate detection of fraudulent activity, using a self-improving algorithm that continuously adapts to new tactics to dynamically identify suspicious patterns in blockchain transactions. Dr Pascal Berrang and PhD student Endong Liu co-developed SynapTrack in collaboration with blockchain developer Nimiq. Dr Berrang explains the vulnerability of blockchain systems, and why advanced fraud detection is needed. The team behind SynapTrack is keen to hear from exchanges, financial regulators or law enforcement agencies who want to test the prototype in real-world conditions. For more information sign up at https://synaptrack.co.uk
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University of Birmingham Enterprise
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