Using Data Analytics to Combat Cryptocurrency Crimes and Threats

Using Data Analytics to Combat Cryptocurrency Crimes and Threats

Exploring crimes, security, mischief and dynamic threats. Cybersecurity is a serious subject, in an increasingly interconnected world: So what do we do?

Our data has never been exposed. Nowadays, all it takes is an 8 character guess by a bad actor, and your whole life can be uprooted. And in a world so bent on cutting edge, we seem to have found ourselves in the golden age of financial crimes.

Photo by Stephen Dawson on Unsplash

Taking a hard look at where and what kinds of Information Misuse happens, we see that there are huge industries like government documents and financial fraud where we find information misused.

Fair Use for Academic reference: ‚Äú Consumer Sentinel Network Data Book for January ‚ÄĒ December¬†2015‚ÄĚ


Digesting the data published by¬†‚ÄúSentimental Network‚Ä̬†.We find that the problems that these industries are facing have to do with the lack of identity regulation, and a way to recognize and verify the authenticity of a user‚Äôs data. This problem is exasperated in newer cutting edge technologies such as Blockchain. These statistics go even higher. Causing Regulatory Commission and traditional financial institutions to reject modern methods of financial exchange; this fear is not for nothing. But it ends up hurting the consumer at the end of the day. Because the savings that ensue from using modern methods and fintech offer savings, that gets transferred to the consumer. Making it easier to conduct business and to help businesses grow. Helping contribute to the reversal of the middle-income squeeze.

In fact, Bitcoin seems to be natorius, it is no secret that criminals have used the cryptocurrency for:

  • Sale of illegal goods.
  • Terrorism financing
  • Ransomware
  • Money laundering and trafficking.

But the same can be said for traditional cash currency. So how do we solve it?

Data automation and risk scoring help us build analytical models and manage risk.

The level of advancement of monetary logistic devices, systems, and methodologies has expanded impressively over recent decades. Driven by the encounters, strife and emergencies. Reinforcing administrative techniques and selection mechanisms for predicting bad actors. Diagnostic systems are of principal significance in financial modeling and risk management. As criminals are using more and more sophisticated mechanisms, the counter has not necessarily adapted and adopted technologies to help push technological change, whilst maintaining, or even increasing security.

Public blockchains are very cool, in that they allow a hound of data on the wallet, primarily it’s transaction history. And data analysis helps us do cool things:

  • Use of machine learning and data scraping methods to help organizations recognize the implicit ‚ÄėAudience‚ÄĚ
  • Identify compliance issues, and cross-departmental intelligence using data
  • Generating key metrics on public wallets.
  • Generating information about the wallet: Whether it is a personal, professional saving, or trading account;
  • Also generating information on the authenticity of the funds and using Big Data Query to automatically categorize aggregate data about the owner.
  • Streamlining regulations and compliance scrutiny with business intelligence.

What you can do!

New Working Group and Think Tank.

I intend to work with Government Blockchain Association (GBA) member companies like the Blockchain Intelligence Group, who are industry leaders in this field. Whilst we are in the process of establishing the project team helping tackle this issue.

The output of this project will be a white paper and powerpoint presentation that will be distributed to all GBA Chapters around the world and published on the GBA platform and promoted on social media.

If you are interested in participating in this project, please contact me, Royce Leon D’Souza.


Or sign up:¬†¬†(Remember to make sure you’re on a secure network, and on SSL)

Further Call to action

If you like what you read, consider subscribing and sharing. This is how I know if I am on the right track.¬†ūüôā

I write about IoT, Blockchain, AI, Startups, Mind-Body-Soul, future predictions and cool things that I am into. I would like to thank my viewers, friends and family for supporting me. And you especially for reading this article, let me know what you like, and did’t like: it helps direct the next post I write about.


If you have any ideas or questions about this article, or future one, please feel free to reach out. I don’t get to here enough from my readers. Look forward to hearing from y’all.

Best, Royce


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