For regulated Money Service businesses, having an effective AML program is essential.
We've learned that existing solutions are:
- too expensive
- too invasive
- ineffective for lightning
To prove it can be better, we're launching a free trial of our continuous monitoring.
Is this for every node on the lightning network?
Absolutely not.
Running bitcoin infrastructure is freedom in finance.
Running a Money Service Business is specific, regulated activity that operates within a jurisdiction and must abide by AML laws as well as OFAC.
For other businesses that send payments, bitcoin is digital cash of the future that's primed to help businesses grow: it's like hooking your business up to the internet.
Unfortunately, that doesn't stop wild accusations of terrorist finance occurring in bitcoin.
The early days of the internet scared regulators into thinking it's only for drug dealers and pornographers.
The reality is much different: the internet is for cat videos.
The future of finance shouldn't get bogged down by naive accusations of terrorism and money laundering.
Instead, bitcoin businesses need our support to show that commerce can happen on better financial rails with bitcoin. It's not money for criminals; it's money for humanity.
What's needed for businesses is a consistent program that demonstrates precautions against funding terrorists and money launderers. That doesn't need to be expensive or invasive.
We'll prove it with a 14 day trial of continuous risk monitoring.
In a daily email, your business will receive actionable steps to avoid:
- OFAC Risks,
- Ransomware,
- Sanctions violations
This is part of a comprehensive program to secure your lightning operations against risks, and minimize the attack surface for unhinged accusations.
To find out more about our Reflex Payment Operations suite for businesses, visit https://rpo.dev .