A major smartphone manufacturer Samsung has integrated an anti-money laundering (AML) solution for crypto assets, thereby enhancing the security of its Blockchain Wallet, which is added to the latest flagship phones.
According to a blog post by South Korean software developer Uppsala Sesurity, the company has signed an "Agreement on the integration of the Blockchain AML service" with Samsung and directly linked its AML crypto solutions to the Samsung Blockchain service.
According to Uppsala, this will allow Samsung smartphone users to "detect threats in real time or receive push notifications related to suspicious transactions.
The AML solution allows users to check the status of cryptographic wallets' addresses before proceeding with translation. The checks are based on a database of wallet interactions that have been flagged as potentially associated with hackers, fraudsters or darknet users.
In addition, the solution has a tracking system for customers who believe they have been the victim of fraud or hacking attempts. Uppsala's monitoring reports can be shared with law enforcement for use as evidence.
Only clients from some Asian countries will be able to use this solution at this time:
"Currently, a free service is available to users in South Kopee and Singapore and only to provide a tracking report with a single crypto wallet address.
This step further strengthens the cooperation between Uppsala and Samsung, although earlier this year the companies announced their intention to launch a "cryptographic loss tracking system".
In general, Uppsala is actively working with law enforcement firms and legal experts to assist police and judicial officials in seizing and freezing cryptographic materials for criminal investigations.
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