Can Cense help banks detect and manage their existing crypto exposure?

Yes, Cense AG offers a comprehensive solution to help banks detect and manage their existing cryptocurrency exposure. One of the key tools we provide is a specially curated list in Excel format, which tracks bank accounts and Payment Service Providers (PSPs) that crypto firms commonly use to send or receive funds. By cross-referencing IBAN numbers against this list, banks can identify transactions involving crypto exchanges or other blockchain-related entities, even if these transactions are not immediately disclosed by the client.

This list helps banks gain visibility into crypto-related transactions that may already be occurring within their customer base. For example, by monitoring outgoing transfers to known crypto exchanges or incoming payments from blockchain platforms, banks can assess the level of crypto exposure tied to their accounts. This is especially useful for detecting cases where clients use personal or third-party wallets to interact with crypto markets without the bank’s explicit awareness.

Once this exposure is detected, Cense AG’s platform allows banks to create detailed risk profiles for each client or transaction. By tracking and managing these risks, banks can take a proactive approach to compliance, ensuring that they are not inadvertently exposed to illegal activities such as money laundering, fraud, or sanctions violations. This not only enhances the bank’s ability to meet regulatory requirements but also provides a clearer understanding of their crypto-related risk landscape.