ProtectedBy.AI is Awarded Department of Defense Contract to Develop Innovative Tools to Combat Criminal Cryptocurrency Transactions

WASHINGTON, Aug. 10, 2021 /PRNewswire/ -- ProtectedBy.AI has received an award worth up to $7.6 million through the Consortium Management Group, Inc., on behalf of the Consortium for Command, Control and Communications in Cyberspace (C5) to support the Irregular Warfare Technical Support Directorate (IWTSD) and their Counter Threat Finance (CTF) program. The award is to develop a prototype solution that will research, analyze, and identify transactions within blockchain records.

Cryptocurrencies and other blockchain-based virtual assets have unique characteristics that can frustrate financial investigations. Crimes are often conducted behind the veil of technologies that were purposefully developed to obscure the identity of the underlying transactors. This can impede law enforcement agencies' abilities to detect, trace and prosecute offenses by depriving investigators of one of the most powerful tools in their arsenal: The ability to "follow the money."

The anonymity inherit to cryptocurrency is increasingly being used to facilitate unlawful transactions and enable crimes including narcotrafficking, human trafficking, extortion, corruption and ransomware. Cryptocurrency is likewise providing criminals with a way to effectively circumvent Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) banking laws and regulations.

The IWTSD identifies and develops capabilities for irregular warfare for numerous adversaries for the Department of Defense (DoD), Special Forces and Department of Homeland Security (DHS).

C5 is a consortium composed of leading companies and institutions in the Command, Control, Communications, Computers. Intelligence, Surveillance and Reconnaissance (C4ISR) and cyber technology sectors. C5 accelerates the development and deployment of new capabilities to the warfighter through the use of Other Transaction Authority. C5 gives members an innovative and commonsense acquisition mechanism for development of new technologies and products to meet government customer requirements.

ProtectedBy.AI develops software solutions that are at the intersection of Cybersecurity, Artificial Intelligence, Blockchain, Intelligence Analysis, and Socio-Cognitive Psychology for the purpose of protecting People, Property, Places, & Profits. Their products focus on Cybersecurity, Intelligence Analysis and providing their clients with the data-driven insights they need to succeed.

Effort sponsored by the U.S. Government under Other Transaction number W15QKN-17-9-5555 between the Consortium Management Group, Inc., and the Government. The U.S. Government is authorized to reproduce and distribute reprints for Government purposes notwithstanding any copyright notation thereon.

The views and conclusions contained herein are those of the authors and should not be interpreted as necessarily representing the official policies or endorsements, either expressed or implied, of the U.S. Government.

About CMG

The mission of Consortium Management Group, Inc. on behalf of Consortium for Command, Control, and Communications in Cyberspace (C5) is to speed development of technologies to improve U.S. Government capabilities required to sustain U.S. military supremacy in weapon systems information technologies.

About ProtectedBy.AI 

ProtectedBy.AI develops solutions that augment human intelligence that protect and advance the economic and security objectives of companies and countries. With a team of experts that have developed and delivered leading-edge solutions for a wide range of organizations, including the Department of Homeland Security, the Central Intelligence Agency (CIA), and the United States Department of Defense, ProtectedBy.AI provides cutting-edge, cost-effective solutions that are at the intersection of technology and psychology. 

Media Contact: 
Maura White, Director 
[email protected]
(850) 445-5220

SOURCE ProtectedBy.AI

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