OFAC wants to use blockchain analytics tools from Chainalysis


The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) wants Chainalysis software for "mission-critical research."

A new public notice dated May 26 outlines OFAC's intent to subscribe to the Chainalysis platform for its purposes. OFAC wants to use an online application for blockchain tracing  "to equip investigators in its Office of Global Targeting (OGT) to analyze and track virtual currency transactions." It plans to use this information to identify parties that may be put on the Specially Designated National and Blocked Persons List as part of its cyber sanctions efforts. 

OFAC first put out a call for blockchain analytics tools earlier this month, when it called for the specific features Chainalysis provides: address clustering capabilities, wallet explorer tool, transaction flow mapping and analysis of user behavior and market data.

"Moreover, Chainalysis’ use by key industry, U.S. Government, and foreign partners necessitates OFAC’s use of the same tool to be able to collaborate easily and seamlessly with these partners in investigations and anti-money laundering and terrorist finance inquiries," said the notice.

Within its use of Chainalysis' tools, it also wants OFAC employees to take advantage of its training courses. In addition to case support and other functionalities, OFAC is seeking access to the "Get Certified Training Package" and "Specialist Training."

OFAC could use the service for as long as the next five years. The notice cites a base period beginning July 15 and ending July 14 of 2022. It then lists four "option periods" of the same dates, each lasting a year. The final expiry date is July 14, 2026. 

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