London UK, 28 February 2023: Ripjar, the trusted provider for tackling financial crime, today 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 organisation 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) defences is 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 customisable solution.
Jeremy Annis, CEO, 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 data must all be protected.
Ripjar was chosen as a strategic partner due to its expertise in supporting leading organisations and governments. Amber Group will be supported through risk-based screening rules, quality alerts and the identification of compromised individuals.
Ripjar is a data intelligence platform company whose mission is to help organisations and governments automate the detection, investigation and monitoring of threats from criminal activity. Founded by former members of the UK’s Government Communications Headquarters (GCHQ), Ripjar develops software products that combine automation, artificial intelligence, and data visualisation to help companies solve the most complex risk and security management problems at scale.
About Amber Group
Amber Group is a global leader in digital assets products and infrastructure with offices in Asia, Europe, and the Americas. The firm provides a full range of digital asset services spanning investing, financing, and trading. Amber Group is backed by prominent investors including Fenbushi Capital US, Sequoia Capital, Temasek, Paradigm, Tiger Global, Dragonfly, Pantera Capital, Coinbase Ventures, and Blockchain.com. For more information, please visit www.ambergroup.io