KPMG teams up with Chainalysis in Canada 

KPMG in Canada has joined forces with Chainalysis, a leading blockchain surveillance firm. This strategic partnership, unveiled on Wednesday, signifies KPMG’s entry into the Chainalysis Solution Provider program, emphasizing a shared commitment to fortify efforts against illicit activities in the evolving landscape of digital currencies. As part of this collaboration, KPMG professionals are set to undergo certification as Chainalysis Certified Investigators, enhancing their capabilities to detect and prevent fraudulent practices within the cryptocurrency sector

About the collaboration

At the heart of this collaboration is a shared goal: to provide advanced blockchain monitoring, support, governance, and risk management services. These services are strategically designed to aid organizations in adhering to evolving regulations surrounding cryptoassets and bolstering their Anti-Money Laundering (AML) compliance programs. KPMG has set a milestone as the first Canadian firm in its domain to join forces with Chainalysis in this capacity. 

After the collaboration, Enzo Carlucci, the National Forensic Leader at KPMG in Canada, emphasized the critical importance of promptly addressing and reporting criminal activities within the crypto space. With this partnership, response times will be accelerated, enabling swifter identification of potentially illicit activities.

Jonathan Levin, Chainalysis Cofounder and Chief Strategy Officer, also highlighted the synergies between the two firms, emphasizing that KPMG’s expertise in crypto asset financial crimes, when layered over Chainalysis’ risk capabilities, provides organizations with a comprehensive approach to mitigating fraud risks in crypto transactions. The collaboration offers clients the opportunity to establish effective Know Your Transaction (KYT) rules, stronger anti-money laundering protocols, and robust investigation strategies.

Need of such collaborations

The urgency of such collaborations is underscored by the significant rise in crypto asset fraud in recent years. The Chainalysis 2023 Crypto Crime Report reveals a global cryptocurrency-based illicit transaction volume of $20.6 billion in the previous year. Instances of crypto-related complaints have surged, with the Ontario Securities Commission Contact Centre reporting a 200% increase since 2020, and the Canadian Anti-Fraud Centre receiving over 92,000 reports of fraud in 2022, totaling $531 million in losses. This collaboration positions KPMG and Chainalysis at the forefront of addressing the evolving challenges associated with crypto asset fraud.

The collaboration between KPMG and Chainalysis marks a pioneering strategic alliance within the realm of professional services and blockchain surveillance. KPMG, a distinguished member of the ‘Big Four’ accounting organizations, announced this innovative partnership, signaling a strategic move to counter the escalating threat of cryptocurrency fraud. The collaboration involves the certification of KPMG professionals as Chainalysis Certified Investigators, a development aimed at enhancing their proficiency in identifying and preventing illicit activities within the cryptocurrency sector.

Kunal Bhasin, a Partner and Crypto and Blockchain Co-Leader at KPMG in Canada, emphasized the strategic significance of the collaboration, stating, “This collaboration will help to further solidify KPMG’s expertise in forensic investigations and crypto assets and blockchain technology.”


In a groundbreaking move to address the escalating threat of crypto asset fraud, KPMG in Canada has partnered with blockchain surveillance firm Chainalysis, marking the first collaboration of its kind for the Canadian professional services giant. The initiative involves certifying KPMG professionals as Chainalysis Certified Investigators, enhancing their capability to assist clients in both the public and private sectors in detecting and preventing illicit activities related to crypto assets. By combining KPMG’s trusted forensics and crypto asset advisory expertise with Chainalysis’ cutting-edge blockchain data monitoring technology, the collaboration aims to provide organizations with a comprehensive approach to mitigating fraud risks in crypto transactions. This strategic alliance is particularly timely, given the significant increase in crypto-related complaints and losses reported globally, reinforcing the importance of proactive measures to secure the rapidly evolving crypto landscape.

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