Anti-Money Laundering (AML) , Blockchain & Cryptocurrency , Fraud Management & Cybercrime

Fighting Against Money Laundering Schemes That Involve Monero

Dave Jevans of CipherTrace Discusses Development of New Technologies
Dave Jevans, founder and CEO, CipherTrace

How could technology now in development potentially help fight against money laundering schemes that leverage the cryptocurrency Monero, which cybercriminals value for its privacy attributes? David Jevans of CipherTrace describes efforts to earn patents on fraud-fighting tech.

See Also: Looking Towards 2024: Global Trends in AML and Financial Crimes Compliance

“The patent applications that we have filed are based around several years of work in the area,” Jevans says. “They look at a lot of different holistic approaches to how you can trace Monero transactions. It's still foundational work; there's still a lot more to be done in the area.”

In a video interview with Information Security Media Group, Jevans discusses:

  • The recent patent applications for technology to trace Monero;
  • Cryptocurrency money laundering trends for 2020;
  • Why he expects governments to designate official digital currencies within 10 years.

Jevans, CEO and a founder of CipherTrace, is a serial entrepreneur in crypto, security and fintech. He previously founded encryption companies and IronKey, and he holds 17 U.S. patents, mainly focusing on cybersecurity and cryptography. He has advised Congress on blockchain security, internet fraud and cybersecurity.

About the Author

Nick Holland

Nick Holland

Former Director, Editorial

Holland focused on the intersection of digital banking, payments and security technologies. He has spoken at a variety of conferences and events, including Mobile World Congress, Money2020, Next Bank and SXSW, and has been quoted by The Wall Street Journal, CNN Money, MSNBC, NPR, Forbes, Fortune, BusinessWeek, Time Magazine, The Economist and the Financial Times.

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