Digital asset settlement platform Zero Hash, selects Alessa with World-Check as its new partner to screen existing and prospective customers against sanctions, watch and law enforcement lists for its risk-based approach to AML compliance.
TORONTO and NEW YORK, February 2, 2021 – Alessa, a leading provider of compliance and fraud prevention solutions, has announced that Zero Hash has selected Alessa to meet its name and customer screening needs to enhance its compliance to anti-money laundering (AML) regulations.
Zero Hash provides a settlement infrastructure for platforms, such as app-based brokerages, to offer virtual currency trading for their users. With Zero Hash, businesses in the United States and Canada can have instantaneous cross border payments and eliminate complexity of moving assets for the world’s largest liquidity providers.
“As a registered money services business (MSB), Zero Hash screens prospective users and customers. Our decision to use Alessa with World-Check will enable us to more easily verify that anyone using Zero Hash’s settlement infrastructure is not engaged in unauthorized transactions,” said Stephen Gardner, Chief Compliance Officer and General Counsel at Zero Hash.
“Financial regulators have clearly stated that MSBs and exchangers and administrators of digital currencies must maintain an effective AML compliance program,” said Andrew Simpson, Chief Operating Officer of Alessa. “The decision by Zero Hash to use Alessa will allow them to easily screen payment senders and receivers, investigate and confirm matches to sanctions and watch lists and track steps taken during the investigation for effectiveness reviews and examinations.”
MSBs, banks, credit unions and other types of financial institutions trust Alessa to meet their compliance obligations and fraud prevention needs. Alessa is consistently selected because it is an easy-to-use and modular solution that easily integrates with existing infrastructure, and scales with organizations as their size and needs grow.
To learn more about how Alessa can strengthen your AML program, visit https://alessa.com/. To learn more about the services offered by Zero Hash, visit https://www.zerohash.com/
Alessa is a compliance, controls monitoring and fraud prevention solution for banking, insurance, fintech, gaming, manufacturing, retail and more. With deployments around the world, Alessa allows organizations to quickly detect suspicious transactions, identify high-risk customers and vendors and decrease fraud risks that reduces profitability and increases costs. To learn more about how Alessa can help your organization ensure compliance to regulations, detect complex fraud schemes, and prevent waste, abuse and misuse, contact us today.
About Zero Hash.
Zero Hash’s mission is to empower innovators by delivering access to the financial system 2.0. Zero Hash enables developers and businesses to focus on building experiences and products. We power your favorite brokerage app or neo bank to offer BTC, provide the rails to the 2.0 payment processors, give platforms the ability to facilitate instantaneous cross-border payments and eliminate complexity for moving assets for the world’s largest liquidity providers. Zero Hash is a FinCen-registered Money Service Business as well as a regulated Money Transmitter that can operate in more than 50 US jurisdictions. Zero Hash also holds a virtual currency license from NYDFS. Zero Hash was voted Innovator of the Year by the 2019 Profit & Loss Readers Choice Awards.