Token sales client case: ICO new company launch

Problem

V.A.F. Compliance was approached by a company that had raised a significant amount of funds via an ICO and was facing issues obtaining a bank account and achieving a regulatory status.

Our forensic solution

V.A.F. Compliance’s forensic reporting solution was used to complete a full KYC, KYT and AML profile of all initial investors in the project.

For the first phase of this project, we used our forensic reporting tools to allow us to complete a full backwards analysis of all the transfers that had been made into our client’s wallets to verify that our client’s source of funds was not associated with any illicit activities. After this was completed, our client was able to present our report to the regulator, which relied on our report to confirm that the client’s source of funds was fully verified.

During the second phase of the project, we used the same report which we provided to the regulator to introduce our client to one of our banking partner’s which guided them through their successful onboarding process from beginning to end.