Crypto transactions must be monitored in real-time against AML risks, and risky transactions must be analyzed.
The key advantages provided by Actimize WL-X against these risks are:
Fast and Precise Decision Making: MiCA expects crypto asset service providers (CASPs) to establish tight control over transactions. WL-X processes data in real-time with an average response time of under 100ms, enabling immediate response to critical alerts.
Crypto-Specific Screening Solutions: WL-X offers a dedicated "WL-X Crypto Screening Solution" for tracking assets under MiCA. This system integrates wallet risk scores from third-party blockchain information services, analyzes crypto transfers with real-time scenarios, and decides whether to release or block the transaction within seconds.
Operational Efficiency and Reduction of False Alarms: The alarm clutter generated during the regulatory compliance process can increase costs. WL-X's machine learning model filters out noisy hits, reducing the number of false positives by 60-70%. This allows operators to focus on high-risk and meaningful alerts, which is the focus of MiCA.
Enhanced Risk Focus and Compliance: MiCA aims to support market integrity and protect consumers against risks. WL-X minimizes financial losses and operational errors by performing real-time profile-based screening (e.g., daily transaction thresholds, wallet-based risk scores), resulting in better compliance with regulatory and audit requirements.
Transparency and Traceability: MiCA introduces record-keeping and standard reporting obligations. Actimize WL-X provides detailed audit trails, real-time analytical reports, and dashboards, ensuring transparent documentation of all transactions and decisions.
Future Readiness and Scalability: MiCA regulations are broad enough to cover new asset types. The WL-X model has a scalable structure that can easily adapt to new transaction types and increasing volumes, and allows the system to become "smarter" over time through continuous learning.
WL-X also integrates with Travel Rule and third-party crypto solutions, supporting the comprehensive audit mechanisms demanded by MiCA.
To comply with MiCA (Cryptocurrency Markets Regulation) and local Capital Markets Board regulations, the "blocking" feature used in the Actimize WL-X platform operates with a sophisticated architecture that monitors cryptocurrency transfers in real time.
The system's operation consists of the following basic steps:
External Data Integration: When a bank or cryptocurrency service provider (CMS) receives a coin transfer from an external wallet or market, it first obtains a risk score for the relevant wallet from a third-party Blockchain Information Service. WL-X Analysis: This wallet risk score and all transaction details (amount, IP, account information, etc.) are sent to the Actimize WL-X system in real time. WL-X analyzes this data with predefined real-time scenarios.
Decision Making (Blocking vs. Release): As a result of the analysis, the WL-X system produces two types of responses: "Block" or "Release".
Transaction Interruption (Block): If the wallet risk is high or the transaction falls under MiCA/SPK compliance rules (e.g., daily transaction limits), the system responds with "Block" within seconds, stopping the transaction.
Release: For transactions deemed safe, a "Release" response is given, allowing the transfer to be completed.
Speed and Performance: To meet the strict auditing requirements expected by MiCA, this entire process takes place with an average response time of less than 100 ms.
Critical Mechanisms in the Compliance Process
Profile-Based Scanning: The system prevents exceeding regulatory limits by performing profile-based scanning based on daily transaction thresholds and wallet-based risk scores.
Travel Rule Integration: One of the most critical requirements of MiCA, Actimize WL-X works in full integration with Travel Rules, verifying the accuracy of sender and recipient information.
Machine Learning (ML) Support: The ML model filters out "noisy" hits, reducing false alarms by 60-70%. This allows the system to focus only on interrupting truly non-compliant or risky transactions.
Audit Trail: A detailed audit trail is created for each transaction interrupted or released; this ensures compliance with the transparent reporting and audit obligations required by MiCA and the Capital Markets Board (SPK).
Thanks to these mechanisms, Actimize WL-X enables financial institutions to operate in full compliance with both the European Union's MiCA standards and the SPK regulations under Law No. 7518 in Türkiye, minimizing operational risks.
