Success Story
Client Introduction
A globally recognized cryptocurrency exchange facilitating high-volume BTC, ETH, and stablecoin transactions across multiple jurisdictions.
Problem Statement
The crypto exchange was facing increasing regulatory pressure and risks due to a significant backlog of over 60,000 Know Your Transaction (KYT) alerts, spanning nearly two years. Key challenges included:
- Delayed detection of high-risk behaviors (e.g., mixers, darknet, sanctioned wallet interactions).
- Prolonged alert resolution time (> 4 hours per alert).
- Lack of standardized investigation protocols.
- Approx. 38% QA failure rate, raising audit and regulatory concerns.
- Regulatory, reputational, and operational risks due to upcoming inspections in the US and EU.
Solution Offered
Anaptyss deployed a team of Crypto Investigators, QA Analysts, Compliance SME, and Governance Lead to clear the KYT alert backlog and deliver a multi-phase transformation. The approach combined risk- based alert triage, automation of workflows, and real-time QA feedback loops to deliver a scalable and regulator-ready KYT framework.
Key Solutions Delivered
Anaptyss led a holistic transformation through process optimization, workforce enablement, and quality assurance.
- Defined a risk-based triage strategy using typology-based red flags.
- Developed custom SOPs and alert investigation matrix.
- Streamlined case management workflow and QA scorecards across internal and external tools (Chainalysis, TRM Labs, Internal Case Engine).
- Comprehensive tagging of alert investigation logs and typology.
- Established rapid escalation paths for high-risk alerts.
- Introduced risk labeling and wallet clustering for efficient investigation.
- Implemented a three-tier QA model with real-time feedback.
- Delivered a regulator-ready Audit Pack with alert narratives, red flag references, decision logs, and QA reports.
- Conducted targeted training to upskill the client's team for Tier-1 alert management.
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Business Outcomes
- Cleared over 60,000 alerts within 6 months.
- ~65% shorter duration for resolving alerts.
- ~98% QA accuracy for alert investigations.
- ~ 87% faster escalation time (< 6 hours).
- Mitigated risks of compliance breach ahead of regulatory inspections.
Want to learn more or need a solution?
Write to us: info@anaptyss.com
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