Case Study: Bitlocus saves 320 hours of monthly CTR filing work with AMLYZE

Unlocking 320 hours of monthly productivity for VASPs

Bitlocus, a financial technology company offering crypto services, faced the challenge of manually completing mandatory Cash Transaction Reports (CTRs) for transactions over €15,000, a labor-intensive process that risked human error and consumed significant compliance resources. To solve this, they implemented the automated CTR module from vendor AMLYZE.

The AMLYZE solution automatically monitors transactions, aggregates data upon reaching the threshold, and generates CTRs in the required format. This automation saved Bitlocus an estimated 320 hours of manual work per month, reduced the likelihood of errors, and enabled their AML specialists to focus on higher-value analysis. The effectiveness was confirmed when a regulatory inspection found no serious infringements.

Bitlocus

Andrius Normantas

Bitlocus