Fraud Data Feeds that Fight Money Laundering

Money launderers are notorious for always being a step ahead of the law enforcement and anti-money laundering (AML) professionals that are responsible for catching them. With the new anonymity of cryptocurrency transactions, it is easier than ever for these cybercriminals to slip through the detection of officials. These cryptocurrency transactions can disguise the purchase of goods and services on the Dark Web that range from anything from the sale and purchase of weapons, narcotics, and child pornography to financial fraud and identity theft.

Cybercriminals know full well that these digital currency exchanges aren’t liable to uphold to the strict anti-money laundering (AML) requirements in place at most traditional financial institutions. This has taken on global implications as money laundering through digital currency has also become a haven for countries like North Korea, Iran and Russia that are seeking to evade international sanctions.

So how can businesses and organizations use fraud data feeds to fight money laundering and help detect and prevent the execution of this activity on both individuals and state actors long before it occurs?

Combining Data from a Single Endpoint

Although determining the sources of cryptocurrency transactions is far from easy, it can be accomplished with the right tools. By carefully tracking the digital footprints of cybercriminals throughout the dark and open web, law enforcement and security analysts can piece the data together to solve the crime. It doesn’t matter whether a cybercriminal has hidden their transactions through a shell company, gambling casinos, cryptocurrency exchanges, or by “mixing” or “tumbling” their cryptocurrency.   

Webhose’s Cyber API assists businesses and organizations to connect the different data points by offering extensive coverage of the many networks of the Dark Web — all from a single endpoint.

To detect and prevent money laundering, Webhose’s New Cyber API provides:

    • Coverage of the Dark Net networks, including: I2P , ZeroNet, IRC, Telegram, OpenBazaar, and Discord
    • Extraction of many different entities on the Dark Web, such as: emails, credit card information, social security numbers, phone numbers, wallet IDs, person, location, organization and more
    • The ability to search all cyber and open web sources at once, from a single endpoint
    • Threat awareness to monitor the darknet and provide alerts and/or a notification center when threats occur
    • Threat intelligence to assist law enforcement and security analysts in identifying cybercriminals

Learn more about how Webhose’s Cyber API delivers extensive coverage of data throughout the Dark Web and helps stop money launderers in their tracks.

How Webhose’s Fraud Data Feeds Work

Let’s take a real-life example for further illustration of how Webhose’s Cyber API solution works to fight money laundering.

Here is a case from the world of cryptocurrency, a transaction that is particularly difficult to trace. But with Webhose, it’s possible to still find hundreds of posts related to the transaction through a search of discussions about tumbling and mixing cryptocurrencies, and eventually link it to the user’s wallet.

By querying different chat groups in I2P, an anonymous network for forums and marketplaces about tumbling bitcoins, we can reveal a wealth of information about money laundering sources for Bitcoin.

Using the Webhose Cyber API, we were able to locate a few users asking for and recommending the best type of mixer to use to launder Bitcoins:

   

Another search rv

  

Searching additional Darknets can reveal even more information, like a user confessing to having stolen millions of dollars from the US government. There’s just one problem: The user is at a loss as to how to cash out without being caught.

Access Hidden Content

Our Cyber API crawler extracts encrypted and password-protected illicit content to collect, scrape, and structure it to identify various threats. It’s the first step towards identifying and tracking criminals and hackers as they leave traces from different data points -- and their data leaks -- all across the dark and open web.

Full Coverage at Scale

In addition to searching TOR, ZeroNet, the Deep Web and Dark Web, Webhose’s superior coverage also includes I2P, IRC, and OpenBazaar networks as well as Telegram and Discord messaging services. We then turn it into readable and cyber-ready data in near real-time -- in JSON or XML format.

Simplified Data Extraction

Focus on your business instead of wasting time and precious resources on your own in-house web scraper. Access structured and unstructured data from millions of sites, files, marketplaces and messaging platforms with one endpoint. Webhose’s enriched entities use a simple call, giving you the ability to start mining your enriched data immediately.

Laser Focused

Are you searching for data leaks from a particular criminal or hacker, organization or product? Or maybe a domain name? Webhose’s enriched entities include granular filtering for keywords, wallet ID, site domain, organization, phone numbers, credit cards, and more. A simplified yet thorough search can yield results that shed light on the origins of the data leak.

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