San Francisco - TRM Labs, the leading provider of crypto anti-money laundering (AML) and investigation software, is pleased to announce that Akand Sitra will join the TRM Business Strategy team, bringing his global perspective and passion for cryptocurrency.

Mr. Sitra brings a wealth of law enforcement, intelligence and business development experience. Prior to joining TRM Labs, he was a Business Development Manager at ClearTrail Technologies where he provided intelligence and investigation technologies for federal and state law enforcement agencies around the world. Prior to ClearTrail, Mr. Sitra served with the Intelligence Bureau of the Government of India as a Central Intelligence Officer working with the Cyber Cell division on issues related to cyber crime including dark web monitoring. Mr. Sitra received his MBA from the Indian School of Business.

"I am looking forward to bringing TRM's next-generation blockchain intelligence product to law enforcement and businesses around the globe," said Mr. Sitra. "As we build this new financial system, illicit actors will continue to attempt to exploit cryptocurrrency including its permissionless nature and global reach. I look forward to working with the public and private sector around the world to help keep this new financial system safe for billons of people."

“I am thrilled to welcome Akand Sitra to TRM Labs," said TRM CEO Esteban Castano. "Akand has spent his career in the public and private sectors working to keep the financial system safe from illicit actors and shares our passion for building critical infrastructure for the next generation of finance."

Mr. Sitra joins the TRM team as cryptocurrency adoption accelerates worldwide, including experiencing significant growth among traditional institutional investors. A 2019 poll by the Bank for International Settlements (BIS) found that nearly 80% of central banks are working on central bank digital currency (CBDC) research. In September 2020, stablecoins and digital dollars reached 200 billion in monthly on-chain USD volume, nearly 700% more than the same period the year prior.

About Akand Sitra

Prior to joining TRM Labs, Mr. Sitra was a Business Development Manager at ClearTrail Technologies where he provided intelligence and investigation technologies for federal and state law enforcement agencies globally. Prior to ClearTrail, Mr. Sitra served with the Intelligence Bureau of the Government of India as a Central Intelligence Officer working with the Cyber Cell division on issues related to cyber crime including dark web monitoring. Mr. Sitra received his MBA from the Indian School of Business.

About TRM Labs

TRM Labs is the Blockchain Intelligence company. TRM enables organizations to detect fraud and financial crime, accelerate business processes, and meet regulatory requirements, all while working with industry-leading data and workflows. Founded in 2018, TRM works with the leading cryptocurrency businesses, government agencies and financial institutions worldwide. TRM is headquartered in San Francisco, CA, with offices in Washington D.C. and Europe. TRM is backed by leading investors including PayPal, Initialized Capital, Blockchain Capital, and Y Combinator.

‍