Keeping Up with the Compliances – A 2023 AML Guide for Money Service Businesses
Introduction In a globalized world, money laundering has become a worldwide pandemic. Financial crime has swept through banks and financial institutions, putting companies at risk. Money service businesses or MSBs appear to be the new vehicle for criminal rings to move money across borders and within countries. Regulations are tightening to ensure that MSBs are […]
The 2023 Guide to KYC/AML for Crypto Exchanges & Wallets
Introduction Money laundering is a huge problem worldwide. Unfortunately, while cryptocurrency means cheaper, faster international transactions, it also makes the crypto sector ripe for criminal activity, such as money laundering and terrorist funding. To stay ahead of this, regulatory bodies are installing staunch anti-money laundering (AML) legislation. This helps to prevent money laundering through cryptocurrency […]
The 2023 Guide to Customer Due Diligence
Regulatory authorities across the globe are flexing their muscles when it comes to preventing money laundering. The digital era has ushered in a new wave of financial crime, and regulatory bodies are pushing back by tightening anti-money laundering (AML) regulations and customer due diligence (CDD) responsibilities in an attempt to crack down on the epidemic. […]
How to use Biometric Facial Recognition to streamline KYC in 2023
Introduction In a world where online fraud and digital hacks are on the rise, it’s never been more important to verify that your customers are who they say they are. Luckily, advancements in facial recognition software now enable streamlined biometric identification and authentication. For you, this means KYC and AML onboarding processes. Harnessing the power […]
Identity Verification: A Complete Guide to Types and Solutions to Keep You Compliant and Your Client’s Data Safe
Customer ID verification in 2023 is obligatory for nearly every online business, whether work goes directly with customer’s money or company strives for high scaling. Identity verification is an ultimate beneficial solution for both businesses and customers. Knowing your customer is required by regulations worldwide. Moreover, it makes modern online business safe and creates more […]
A FinTech Start-Up’s Guide to ID Verification (and Why It’s So Important)
As technology disrupts the financial sector, the issue of identity verification has taken center priority. With data breaches and hacks leaving customers vulnerable to identity fraud, regulatory organizations are taking a firm line on identity verification. Our current manual systems of identity verification seek to prevent criminal activity, protect customer data, and reduce risk. Anti-money […]
