Is it important to check addresses for AML before doing transactions with it? - page 2.

hatshepsut93

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Quote from: albert0bsd on October 08, 2023, 02:27:39 PM

Is there some free unlimit service to check for AML?

There's no such service and there can not be such service, because even effective chain analysis is not possible, an AML is a step above chain analysis, because it requires to also understand the nature of transactions and their connection to real world transactions.

CEX are doing AML by asking about the source of your coins. If they find your story implausible, they might freeze your account. If your coins are connected to gambling sites or darknet, that would likely trigger automated suspension.

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Quote from: albert0bsd on October 08, 2023, 02:27:39 PM

So again the question: Is it important to check addresses for AML before doing transactions with it?

It is important to check if you plan to trade with centralized exchange. If you also plan to use a CEX you should also be cautious when using a mixer service cause they are flagged by some exchanges.

Quote from: albert0bsd on October 08, 2023, 02:27:39 PM

Obviously if we don’t have any plan to cashout that balance we don’t care much about AML checks.

You should also not worry about it if you plan to trade with a decentralized, P2P exchange.

Zaguru12

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If you’re unsure or you’re having doubts from where the coin will be sent then the best thing to do is to basically use a new bitcoin address and then possibly try to mix this coin on a mixer and from there you can exchange it any exchange. Although there are some exchanges that do place restrictions on coins received from mixers because some of them could be tainted. This way even if a coin is tainted and wants to be traced it will be hard to trace it direct back to you because that particular bitcoin address that received the coin was the only thing linking it to you so without actually reusing it or consolidating your UTXO together with other addresses it can be traced to be yours

albert0bsd

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Well, I am just asking.

Do you consider this important? Usually when we request some payment in bitcoin, we don't care where those funds comes from. But what happens when some of us try to cash out that balance through some CEX to your bank account

I've readed histories here where people get their funds stuck for weeks or months and that would be frustatransing.

So again the question: Is it important to check addresses for AML before doing transactions with it?

Most of the AML checks services offer only a few checks per month, why?

Obviously if we don’t have any plan to cashout that balance we don’t care much about AML checks.

Is there some free unlimit service to check for AML?

What are your thoughts about this?

Regards!

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