TRM Labs
By TRM
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The software can be customized to fit specific business needs:
150+ risk categories: The platform allows users to choose from a comprehensive set of risk indicators, including FATF's money laundering predicate offenses, to set their own risk scoring criteria. This suggests a high degree of customization in risk assessment and compliance settings.
Aligned with Regulatory Requirements: The software helps crypto businesses demonstrate a commitment to compliance with a platform aligned with regulatory requirements.
TRM Transaction Monitoring: Clients receive a risk score calculated in real-time so compliance professionals are able to review activity and disposition alerts in TRM’s easy-to-use web interface, or in their own system. Registered transactions and pre-screened wallet addresses are continuously monitored daily and new alerts are generated as new risk(s) emerge.
Government and Public Sector: Reach conclusions faster and build better cases to safeguard the crypto financial system.
Financial Institutions: Leverage crypto as an asset class while maintaining the highest standards for AML/CFT compliance.
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TRM Labs offers the following training and support to new users:
TRM Academy: Provides an extensive library of self-serve digital courses including product guides, tutorials, case studies, drills, and timely micro-learnings on recent events or new product features3. TRM Academy access is included in the cost of a TRM license.
Certification Courses: TRM Academy separately offers certification courses on demand3. These self-paced certification courses provide in-depth instruction on a range of crypto and blockchain subject matter3. On-demand certification courses require an additional fee and are not included with TRM Academy access3. Upon successful completion of the final assessment, participants receive an accreditation digital certificate and badge for display on social media profiles3. Students access TRM Academy certification courses online via a learning management platform.
Live Instruction: Live instructor-led certification courses can also be arranged on request for groups of at least 5, with additional fees applying.
Global Investigations Team: Users can work with TRM’s global investigations team who specialize in end-to-end crypto investigations in the event of a hack, fraud, or other incident.
TRM Labs is dedicated to safeguarding customer data with industry-leading security measures1. Key measures include:
FedRAMP Compliance: TRM Labs offers the option to access their platform in a FedRAMP compliant cloud environment, ensuring high standards of confidentiality and protection. TRM Labs has achieved FedRAMP Moderate authorization, demonstrating adherence to stringent performance, security, and compliance standards.
SOC 2 Type II Audit: TRM maintains a best-in-class security program and has completed and passed its SOC 2 Type II audit1. The SOC 2 Type II audit report is available upon request.
ISO 27001 Framework: TRM continues to build out its security infrastructure using the ISO 27001 framework, following GDPR principles.
Data Center Security: TRM data is stored in redundant, geographically dispersed data centers that are SOC 2 Type II and ISO 27001 certified. These data centers are managed under a TRM vendor management program.
Penetration Testing: In addition to internal scanning and testing, TRM employs third-party security experts each year to perform a broad penetration test across the TRM Production and Corporate Networks1. Executive summaries of test results are available upon request.
There is no specifics on how often TRM Labs releases updates and how they are managed.
TRM Labs' policy on data ownership indicates that the customer retains all right, title, and interest in and to the Customer Data, except as permitted in Section 3B and 4A of the Private Sector Customer Agreement3. The company owns and retains all rights to the Platform, Software, and Services, including all improvements, enhancements, or modifications.
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Renewal Term: Upon the commencement of each Renewal Term, the customer is liable for payment of a renewal fee. TRM Labs reserves the right to increase the service fee due in the previous service term plus an annual increase of five percent (5%), exercised at their discretion upon thirty (30) days prior written notice to the customer before the expiration of a Service Term.
Contract Renewal: Contract renewal is extending the duration of a contract beyond the original expiration date, either automatically or through a manual renewal process. Renewing contracts ensures continuity of business relationships, financial stability, risk mitigation, and opportunities to renegotiate and make improvements to the original contract. Automatic renewal provisions can save time, ensure uninterrupted service, and guarantee revenue.
Termination by Company: TRM Labs may terminate the agreement upon written notice to the customer if no Order Form is in effect. In addition to other remedies available, TRM Labs may terminate the agreement and/or suspend the customer's access to the services upon thirty (30) days written notice if the customer does not pay any amount owing under the agreement when due. If TRM Labs terminates the agreement due to the customer's breach or non-payment, all fees that would have become payable had the agreement remained in effect until the expiration of its current term will become immediately due and payable.
Termination by Either Party: Either party may terminate the agreement (i) on thirty (30) days’ prior written notice if the other party materially breaches any of the terms of the agreement and such breach remains uncured thirty (30) days following such party’s receipt of the terminating party’s notice; or (ii) immediately on written notice if: (a) all or substantially all of the assets of the other party are transferred to an assignee for the benefit of creditors, to a receiver or trustee in bankruptcy; (b) a proceeding is commenced by or against the other party for relief under bankruptcy or similar laws and such proceeding is not dismissed within thirty (30) days; or (c) the other party is adjudged bankrupt or insolvent.
SOC 2 Type II: TRM Labs maintains a best-in-class security program and has completed and passed its SOC 2 Type II audit.
FedRAMP Compliance: TRM Labs offers the option to access their platform in a FedRAMP compliant cloud environment, ensuring high standards of confidentiality and protection. TRM Labs has achieved FedRAMP Moderate authorization, demonstrating adherence to stringent performance, security, and compliance standards.
ISO 27001 Framework: TRM continues to build out its security infrastructure using the ISO 27001 framework.
GDPR Principles: TRM follows GDPR principles.
Data Privacy Framework: TRM Labs complies with the EU-U.S. Data Privacy Framework (EU-U.S. DPF), the UK Extension to the EU-U.S. DPF, and the Swiss-U.S. Data Privacy Framework (Swiss-U.S. DPF).
