FICO files patent to power surveillance of Bitcoin exchanges


“A new invention patent has been filed by FICO. The invention is a tool that will allow FICO, government, and others to collect financial data from Bitcoin exchanges. The tool is designed to support AML and KYC regulations. The patent is called ‘Advanced Learning System for Detection and Prevention of Money Laundering.’ The patent filing suggested the product was created to curb fraud. Government offices intend to collect data from exchanges to catch criminals and others. They want to ‘centralize’ all the information.” (09/26/17)