Why Veratad is huge to BSAFE Bank business
This will have a huge impact on making BSAFE as the company of choice to protect Banks Blockchain ecosystem resulting in a big moneymaker for BSAFE. The big gap between BSAFE and any current competitors competing for Banks and other firms getting into BlockChain just got a lot wider.
A big concern of Banks and Blockchain is preventing money laundering. As s result Bank Firms is they must comply with the Bank Secrecy Act (BSA) and its implementing regulations ("Anti-Money Laundering rules"
.is being compliant with BSA (Bank Secrecy Act) and having mandatory measures AML & KYC Know your customers in place to identify and prevent money laundering.
The Solution:
Veratad Selected by BlockSafe Technologies to Provide KYC and AML Compliance
The purpose of the AML rules is to help detect and report suspicious activity including the predicate offenses to money laundering and terrorist financing, such as securities fraud and market manipulation.
Know-Your-Customer ( KYC ) was a strategy developed and implemented on Banks or any payments intermediaries to ensure identity of Customers. ... KYC or Know Your Customer is a compliance process.
Anti Money Laundering (AML) is the bigger package. You would be required to do KYC checks to meet various regulations on AML.
So when the big banks will select a Cyber security company to protect its Bitcoin/Tokens exchanges,wallets, the know only BSAFE can provide that protection. Now they have an added bonus and compelling reason to select BSAFE , they can be immediately compliant BSA , AML and KYC. Huge, Huge , Huge advantage for new customers.
From Veratad re BSAFE
BSafe to the front of the line to serve Banks
Now in addition to protecting the BlockChain ecosystem BSAFE provides another important layer of protection in making Bank/Payment firms compliant with BSA/AML.KYC
This extra program should put BSAFE at the head of the line for Cyber protection for all the Banks jumping into Blockchain. When BSAFE starts protecting Exchanges and Private Blockchains (already protecting wallets) they should burst out of the gates with huge revenues.
This will have a huge impact on making BSAFE as the company of choice to protect Banks Blockchain ecosystem resulting in a big moneymaker for BSAFE. The big gap between BSAFE and any current competitors competing for Banks and other firms getting into BlockChain just got a lot wider.
A big concern of Banks and Blockchain is preventing money laundering. As s result Bank Firms is they must comply with the Bank Secrecy Act (BSA) and its implementing regulations ("Anti-Money Laundering rules"
.is being compliant with BSA (Bank Secrecy Act) and having mandatory measures AML & KYC Know your customers in place to identify and prevent money laundering. The Solution:
Veratad Selected by BlockSafe Technologies to Provide KYC and AML Compliance
The purpose of the AML rules is to help detect and report suspicious activity including the predicate offenses to money laundering and terrorist financing, such as securities fraud and market manipulation.
Know-Your-Customer ( KYC ) was a strategy developed and implemented on Banks or any payments intermediaries to ensure identity of Customers. ... KYC or Know Your Customer is a compliance process.
Anti Money Laundering (AML) is the bigger package. You would be required to do KYC checks to meet various regulations on AML.
So when the big banks will select a Cyber security company to protect its Bitcoin/Tokens exchanges,wallets, the know only BSAFE can provide that protection. Now they have an added bonus and compelling reason to select BSAFE , they can be immediately compliant BSA , AML and KYC. Huge, Huge , Huge advantage for new customers.
From Veratad re BSAFE
Quote:"BlockSafe employs a multi-pronged approach that locks down the decentralized ecosystem along the three primary exposure points of wallets, exchanges and private blockchains. Through a comprehensive set of solutions, BlockSafe provides a stable approach for today's topsy-turvy blockchain ecosystem at its two highest on-ramps of vulnerability: user authentication and interaction. "
BSafe to the front of the line to serve Banks
Now in addition to protecting the BlockChain ecosystem BSAFE provides another important layer of protection in making Bank/Payment firms compliant with BSA/AML.KYC
This extra program should put BSAFE at the head of the line for Cyber protection for all the Banks jumping into Blockchain. When BSAFE starts protecting Exchanges and Private Blockchains (already protecting wallets) they should burst out of the gates with huge revenues.
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