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OFAC Makes Second Request for Chainalysis’s Blockchain Analytics Tools

The United States Treasury Department’s Office of Foreign Assets Control (OFAC) has requested a subscription to use Chinalysis Inc’s analytics tools to step up its blockchain transaction surveillance efforts

A public notice sent out on May 26, announced OFAC’s desire to subscribe to Chainalysis’s Training and Support Packages for what they deem as “mission-critical research.” The financial intelligence agency is looking to fill its need for a “commercial online blockchain tracing web-based application.”

This week’s public notice marks the second of such request that the agency has made this month, having made a prior request for Chainalysis blockchain surveillance tools on May 4.

OFAC oversees the implementation of U.S. international sanctions and spearheads the government’s enforcement of them. The office works to root out money laundering offenders and terrorist entities operating within its jurisdiction.

The requested application will be used by investigators in the Office of Global Targeting (OGT) in order to properly analyze and monitor virtual currency transactions. The app will allow the OGT to collect what they refer to as “attribution information” on people that the office is looking to add to the Specially Designated Nationals And Blocked Persons List (SDN).  

The report points out that Chainalysis Rumker licenses include Observations and Nodes, which will give OFAC the ability to locate where exactly specific serve nodes are running. The requested aid would go far in helping support cyber sanctions implementations that OFAC is responsible for.