Morais Leitão, through its Digital Defence solution, has launched a new investigation and tracing service for cryptocurrencies and other virtual assets.
With the use of specialised software and certification in cryptocurrency investigation, a first in the national market, Morais Leitão's Digital Defence team now has qualified tools to identify and trace cryptocurrency transactions. As well as making it possible to follow transactions in order to ascertain their legality, this service offers a new layer of security for banks and companies when verifying crypto-related transactions.
David Silva Ramalho, head of the team, explains: ‘This tool and the certification we have obtained allow us to do complete tracing, i.e. tracking transactions with cryptocurrencies and other virtual assets. Its two main applications are, on the one hand, identifying the origin of cryptocurrencies and, on the other, their final destination. Identifying the origin is useful in criminal, regulatory and/or anti-money laundering cases, where it is necessary to prove the legality of cryptocurrencies. In this case, if there is a narrative or suspicion that the cryptocurrencies are illegal, it is possible to quickly prove, with certainty and in a graphically expressive and comprehensible way, that the route of the values has a legal origin.’
Tracing the destination of transactions is also essential in cases such as theft or fraud. ‘We can now track cryptocurrencies through several transactions, identifying the exact point at which they arrive at an exchange, with all the necessary details - such as the destination address, the amount and the time of the transaction,’ adds David Silva Ramalho. ‘This precision makes it possible to speed up the blocking and recovery of assets and to act quickly, which is crucial to prevent dissipation and identify the perpetrators.’
With this new tool, Morais Leitão strengthens its response capacity in investigations and compliance of cryptocurrencies and other virtual assets, offering effective and innovative solutions to today's digital challenges.
