Coinfirm has integrated Chainlink oracles for anti-money laundering in the DeFi sector

Analytical company Coinfirm has announced the integration of the Chainlink oracle network into its AML solution. This will enable projects from the decentralised finance sector (DeFi) to track transactions with suspicious patterns.

Coinfirm’s existing product called AMLT Oracle includes more than 270 different criteria for risk assessment, the ability to add addresses to the blacklist and alerts for suspicious transactions.

With the integration of the Bitcoin Supersplit DeFi solution, projects will be able to add the default option of using the Oracle, which will check for addresses on the blacklist for a fee.

In addition, AMLT Oracle will make it possible to block transactions coming from services to anonymise senders, limit wallets where funds may be of criminal origin, and create white lists of addresses.

The solution gives decentralized exchanges and services in the field of traditional finance the opportunity to comply with legal requirements, said Coinfirm representatives.

Coinfirm specialises in block forensics and anti-money laundering. In 2016, the project released an analytical engine for tracking data in the blockchain. The company was involved in the investigation of a $190 million case of missing assets on the Canadian Bitcoin Exchange QuadrigaCX.

Recall that in August Chainlink acquired the DECO solution for private oracles developed at Cornell University. It uses zero-disclosure evidence technology and can be effectively applied in the areas of decentralized lending and identification.