Ripjar, the trusted provider for tackling financial crime, announces a strategic partnership with Amber Group. This partnership will see Amber Group implement Ripjar’s sanctions monitoring, politically exposed persons (PEP), and adverse media screening technologies, supporting the organization to proactively detect and prevent financial crime across its operations.
Founded in 2017, Amber Group is a leading digital asset company and has developed expertise in servicing institutional and high-net-worth individual investors. Headquartered in Singapore, the company is one of the world’s leading liquidity providers, a leader in digital assets products and infrastructure.
Having the right anti-money laundering (AML) defenses are always critical, but it’s particularly important in an emerging market such as cryptocurrency. For digital assets to gain the necessary legitimacy for mainstream adoption, compliance must be front of mind, and today’s partnership will strengthen Amber Group’s position as a highly secure player.
Although name-matching processes appear simple, data is often transferred from several disparate technology systems and sanctions lists for comparison, using matching algorithms and risk-based alert creation rules. With Ripjar on board, Amber Group now has a fully integrated, effective, and customizable solution.
Jeremy Annis, a CEO, of Ripjar, said: “Amber Group’s impressive growth has meant an ever-increasing amount of customer data to manage and protect. Through our technology, we’re enabling Amber Group to focus on securing that data and staying ahead of risks.”
Amber Group prides itself on upholding the highest level of security and compliance standards and firmly believes that for cryptocurrency to gain widespread acceptance, customers, their funds, and their data must all be protected.
Ripjar was chosen as a strategic partner due to its expertise in supporting leading organizations and governments. Amber Group will be supported through risk-based screening rules, quality alerts, and the identification of compromised individuals.
