Longstanding Customer Expands Cognyte Portfolio with Blockchain Analytics Solution to Combat Illicit Transactions
Cognyte Software (NASDAQ: CGNT) has secured a new subscription-based deal worth over $500,000 annually with a national police agency in the Asia-Pacific region. The agreement expands their existing relationship by implementing Cognyte's blockchain analytics solution to combat cryptocurrency-related crimes.
The solution leverages blockchain intelligence, AI, and machine learning to help investigators uncover hidden insights within blockchain data and identify criminals conducting suspicious cryptocurrency transactions. This technology enables the detection of crypto-based criminal actors independently of cryptocurrency exchanges, addressing various illicit activities including organized crime, cybercrime, terror financing, and money laundering.
This implementation comes at a important time, as illicit cryptocurrency transactions have exceeded $24 billion worldwide. The solution aims to help law enforcement agencies fast-track investigations, confiscate illegal cryptocurrencies, return stolen assets to victims, and remove bad actors from cryptocurrency ecosystems.
Cognyte Software (NASDAQ: CGNT) ha ottenuto un nuovo contratto basato su abbonamento del valore di oltre $500.000 all'anno con un'agenzia di polizia nazionale nella regione Asia-Pacifico. L'accordo amplia la loro relazione esistente implementando la soluzione di analisi blockchain di Cognyte per combattere i crimini legati alle criptovalute.
La soluzione sfrutta l'intelligenza blockchain, l'AI e il machine learning per aiutare gli investigatori a scoprire informazioni nascoste all'interno dei dati blockchain e identificare i criminali che effettuano transazioni sospette in criptovalute. Questa tecnologia consente di rilevare attori criminali legati alle criptovalute indipendentemente dagli scambi di criptovalute, affrontando varie attività illecite tra cui crimine organizzato, crimine informatico, finanziamento del terrorismo e riciclaggio di denaro.
Questa implementazione arriva in un momento importante, poiché le transazioni illecite in criptovalute hanno superato $24 miliardi a livello mondiale. La soluzione mira ad aiutare le agenzie di law enforcement ad accelerare le indagini, confiscare criptovalute illegali, restituire beni rubati alle vittime e rimuovere attori dannosi dagli ecosistemi delle criptovalute.
Cognyte Software (NASDAQ: CGNT) ha conseguido un nuevo contrato basado en suscripción por un valor de más de $500,000 anuales con una agencia de policía nacional en la región de Asia-Pacífico. El acuerdo amplía su relación existente al implementar la solución de análisis de blockchain de Cognyte para combatir los delitos relacionados con las criptomonedas.
La solución aprovecha la inteligencia blockchain, la IA y el aprendizaje automático para ayudar a los investigadores a descubrir información oculta dentro de los datos de blockchain e identificar a los criminales que realizan transacciones sospechosas de criptomonedas. Esta tecnología permite la detección de actores criminales basados en criptomonedas independientemente de las plataformas de intercambio, abordando diversas actividades ilícitas, incluyendo crimen organizado, cibercrimen, financiamiento del terrorismo y lavado de dinero.
Esta implementación llega en un momento importante, ya que las transacciones ilícitas en criptomonedas han superado $24 mil millones a nivel mundial. La solución busca ayudar a las agencias del orden a acelerar las investigaciones, confiscar criptomonedas ilegales, devolver activos robados a las víctimas y eliminar a los actores negativos de los ecosistemas de criptomonedas.
Cognyte Software (NASDAQ: CGNT)는 아시아 태평양 지역의 국가 경찰 기관과 연간 500,000달러 이상의 가치를 지닌 새로운 구독 계약을 체결했습니다. 이 계약은 암호화폐 관련 범죄를 방지하기 위해 Cognyte의 블록체인 분석 솔루션을 구현함으로써 기존 관계를 확장합니다.
이 솔루션은 블록체인 인텔리전스, AI 및 머신 러닝을 활용하여 수사관들이 블록체인 데이터 내 숨겨진 통찰력을 발견하고 의심스러운 암호화폐 거래를 수행하는 범죄자를 식별하는 데 도움을 줍니다. 이 기술은 암호화폐 거래소와는 독립적으로 암호화폐 기반 범죄자들을 탐지할 수 있어 조직 범죄, 사이버 범죄, 테러 자금 조달 및 돈세탁을 포함한 다양한 불법 활동에 대처합니다.
이 구현은 불법 암호화폐 거래가 전 세계적으로 240억 달러를 초과한 중요한 시점에 이루어집니다. 이 솔루션은 법 집행 기관이 수사를 신속히 진행하고, 불법 암호화폐를 압수하고, 피해자에게 도난당한 자산을 반환하며, 암호화폐 생태계에서 나쁜 행위를 하는 자들을 제거하는 데 도움을 주는 것을 목표로 하고 있습니다.
Cognyte Software (NASDAQ: CGNT) a signé un nouveau contrat par abonnement d'une valeur de plus de 500 000 dollars par an avec une agence nationale de police dans la région Asie-Pacifique. Cet accord élargit leur relation existante en mettant en œuvre la solution d'analyse blockchain de Cognyte pour lutter contre la criminalité liée aux cryptomonnaies.
La solution s'appuie sur l'intelligence blockchain, l'IA et l'apprentissage automatique pour aider les enquêteurs à découvrir des informations cachées dans les données blockchain et à identifier les criminels effectuant des transactions suspectes en cryptomonnaie. Cette technologie permet de détecter les acteurs criminels liés aux cryptomonnaies indépendamment des échanges de cryptomonnaie, abordant diverses activités illicites, y compris la criminalité organisée, la cybercriminalité, le financement du terrorisme et le blanchiment d'argent.
Cette mise en œuvre intervient à un moment important, alors que les transactions illicites en cryptomonnaies ont dépassé 24 milliards de dollars dans le monde. La solution vise à aider les agences de police à accélérer les enquêtes, à saisir des cryptomonnaies illégales, à restituer des actifs volés aux victimes et à éloigner les acteurs malveillants des écosystèmes des cryptomonnaies.
Cognyte Software (NASDAQ: CGNT) hat einen neuen, auf Abonnements basierenden Vertrag im Wert von über 500.000 Dollar jährlich mit einer nationalen Polizeibehörde in der Asien-Pazifik-Region abgeschlossen. Die Vereinbarung erweitert ihre bestehende Beziehung, indem die Blockchain-Analysetechnologie von Cognyte zur Bekämpfung von Kryptowährungsdelikten implementiert wird.
Die Lösung nutzt Blockchain-Intelligenz, KI und Machine Learning, um den Ermittlern zu helfen, verborgene Erkenntnisse aus Blockchain-Daten zu gewinnen und Kriminelle zu identifizieren, die verdächtige Kryptowährungstransaktionen durchführen. Diese Technologie ermöglicht die Erkennung von Kryptowährungs-kriminellen Akteuren unabhängig von Kryptowährungsbörsen und bekämpft verschiedene illegale Aktivitäten, darunter organisiertes Verbrechen, Cyberkriminalität, Terrorismusfinanzierung und Geldwäsche.
Diese Implementierung kommt zu einem wichtigen Zeitpunkt, da die illegale Kryptowährungstransaktionen weltweit 24 Milliarden Dollar übersteigen. Die Lösung zielt darauf ab, Strafverfolgungsbehörden zu unterstützen, Ermittlungen zu beschleunigen, illegale Kryptowährungen zu beschlagnahmen, gestohlene Vermögenswerte an die Opfer zurückzugeben und kriminelle Akteure aus den Kryptowährungsökosystemen zu entfernen.
- Secured new annual subscription deal worth over $500,000
- Expansion of existing customer relationship in APAC region
- Addresses growing market need with illicit crypto transactions exceeding $24B globally
- None.
Insights
This deal marks a significant strategic advancement for Cognyte in the rapidly expanding cryptocurrency forensics market. The
The deal's structure reveals three key strengths: 1) Customer expansion potential - existing clients adopting new solutions indicates strong product-market fit 2) High-value recurring revenue - subscription model provides predictable cash flows 3) Technical moat - AI-powered blockchain analytics that work independently of exchanges offers unique capabilities versus competitors.
Looking ahead, several tailwinds support growth:
- Increasing regulatory pressure on crypto markets driving demand for forensic tools
- Rising sophistication of crypto crimes requiring advanced detection capabilities
- Growing adoption of digital assets by criminal enterprises
National police agency in APAC deploys Cognyte’s unique AI solution and strengthens its financial investigation capabilities to tackle the growing challenges of illicit cryptocurrency activities
HERZLIYA,
With illicit cryptocurrency transactions surpassing
Cognyte’s unique solution empowers the agency’s criminal investigation unit to detect crypto-based criminal actors independently of cryptocurrency exchanges. By leveraging blockchain intelligence, AI, machine learning and intelligence techniques, the advanced technology enables investigators to uncover hidden insights within blockchain data and unmask criminals conducting suspicious cryptocurrency transactions to fund organized crime, cybercrime, terror and money laundering.
“As a trusted partner we understand that longstanding customers are challenged with new use cases in growing domains like cryptocurrency, and our rich portfolio aims to meet their needs,” said Efi Nuri, Chief Revenue Officer at Cognyte. “Cognyte’s advanced blockchain analytics helps to de-anonymize hidden transactions within financial investigations and mitigate the harm caused by criminal enterprises exploiting cryptocurrency networks for growing use cases like terrorism funding and Darknet market illicit activity. The customer will gain blockchain intelligence that was previously unattainable, empowering their investigators to safeguard the integrity of their digital financial ecosystems and bring criminals to justice.”
Law enforcement agencies and financial crime units worldwide can leverage Cognyte’s solution to combat illicit cryptocurrency activities, including cybercrime, organized crime, trafficking and money laundering. Cognyte’s industry-leading capabilities enable agencies to fast-track investigations, confiscate cryptocurrencies tied to illegal activities, return stolen funds and assets to victims, and remove bad actors from cryptocurrency ecosystems handling trillions of dollars in annual trading volumes.
About Cognyte Software Ltd.
Cognyte Software Ltd. is a global leader in investigative analytics software that empowers a variety of government and other organizations with Actionable Intelligence for a Safer World™. Our open interface software is designed to help customers accelerate and improve the effectiveness of investigations and decision-making. Hundreds of customers rely on our solutions to accelerate and conduct investigations and derive insights, with which they identify, neutralize and tackle threats to national security and address different forms of criminal and terror activities. Learn more at www.cognyte.com.
Cautionary Statement Regarding Forward-Looking Statements
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are identified by use of the words “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “should,” “views,” and similar expressions.
Any forward-looking statements contained herein are based on current expectations, but are subject to risks and uncertainties that could cause actual results to differ materially from those indicated, including, but not limited to, the impact and contributions of the slate of director nominees Cognyte has nominated, the projected growth of Cognyte’s business, and Cognyte’s ability to achieve its financial and business plans, goals and objectives and drive shareholder value, including with respect to its ability to successfully implement its strategy, and other risk factors discussed from time to time in Cognyte’s filings with the SEC, including those factors discussed under the caption “Risk Factors” in its most recent annual report on Form 20-F, filed with the Securities and Exchange Commission (“SEC”) on April 9, 2024, as amended on April 19, 2024 and in subsequent reports filed with or furnished to the SEC. Cognyte assumes no obligation and does not intend to update these forward-looking statements, except as required by law, to reflect events or circumstances occurring after today’s date.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250128671856/en/
Media Relations:
Michelle Allard McMahon
Rainier Communications on behalf of Cognyte Software
prcognyte@rainierco.com
Source: Cognyte Software Ltd.
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