AML check of cryptocurrency address
Description of service
For visitors planning to exchange cryptocurrency, the BestChange website offers the option to perform an AML check of the crypto address from which or to which funds are intended to be sent.
The AML analyzer allows users to verify addresses for both native cryptocurrencies (such as BTC, ETH, LTC, TRON) and tokens — assets created via smart contracts on existing blockchains. Various networks are supported, including ERC20, TRC20, and BEP20 token standards.
What You Need to Know About AML?
- Anti-Money Laundering (AML) refers to measures taken by financial regulators to combat the laundering of funds obtained through illicit means.
- Cryptocurrency services — such as exchanges, exchangers, monitoring platforms, online wallets, merchants, and payment processors — are required to comply with regulatory AML procedures and screen incoming transactions for links to high-risk sources.
- The Risk Score level is determined by the presence of direct and/or indirect connections between a crypto address and various sources. When funds linked to high-risk origins are received, financial service providers are obligated to freeze the transaction for further review — often through a KYC (Know Your Customer) process. This is necessary to identify the source of funds and verify all related information.
In most cases, users are not intentionally involved in violations, and such risk flags occur accidentally or unknowingly. Therefore, critical issues are rarely detected, and after verification, the funds are typically returned to the sender. - Prevention is better than remediation. That’s why BestChange offers users the ability to check a crypto address before sending funds. The system provides automatic recommendations based on the results of the AML check.