The FICO patent application imposes a plan to monitor the spot currency exchange


nnFICO credit scoring system in the exploration of how to collect Bitcoar exchange information, the development of new anti-money laundering products, and applied for a patent. In addition to Bitcoin exchange information, this programmable information acquisition system can also be used for other types of data.n
nTranslation: Annie_Xun
Recent public documents show that the FICO credit scoring system is exploring how to collect information on Bitcoin exchanges and develop new anti-money laundering products.n
The FICO patent application issued on September 21 details the programmable system that discovers illegal transactions and does check markings. Related information can be used to create a “threat assessment” used by bank anti-money laundering experts.n
The document describes how the system is used to track Bitcoin exchange information and improve the scoring system.n
n”Because of the limited interaction between emerging payment systems, such as mobile phones and encrypted currencies and traditional financial institutions, it is found that there is limited opportunity for money-laundering activities, and for cloud-based data storage, multiple data sources are integrated, including legal and illegal Special currency exchange institutions and institutions related to mobile payment and remittance networks “.n
nFICO said, “it is important to collect information and management of legitimate exchanges and managers (such as miners), which means that the system can be used for other Bitcoin ecosystems outside the exchange operator.n
The document says that such information may be collected in a secret, “the information of the legitimate Bitcoin operator will help the AML threat assessment to understand the relevant behavior and find a behavior that may indicate a new illegal use (can not know the operator)”.n

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