In traditional finance, AML specialists analyze financial transactions, while Money Laundering Reporting Officers (MLROs) handle reporting. However, hiring these specialists is financially burdensome, with senior AML officers costing around $60,000 annually. In the crypto market, costs are significantly higher due to a shortage of qualified professionals, the technical complexity of blockchains, and the 24/7 nature of blockchain operations.
BitOK emerges as an easy to use and affordable AML solution that caters to private investors, businesses, and financial organizations globally.
BitOK has also joined the Worldwide Association of Crypto Compliance (WACC). A crucial aspect of WACC's activities is its educational program and certification, designed to train qualified crypto AML specialists. This initiative aims to bridge the gap in understanding and implementing AML practices within the crypto industry.