Gabija Stankevičiūtė

Adult-oriented platforms take up a huge part of the demand for Know Your Customer (KYC) solutions in the entertainment sector. To businesses selling age-restricted items and services, age verification is an effective tool to safeguard minors from accessing NSFW content. Learn more about services that need adult consent and, more specifically, the age verification process.

The popularity of marketplaces is skyrocketing, but with more companies switching to the digital realm, both buyers and sellers encounter new risks related to different types of fraud and scams. So learning about the risks behind anonymity and determining which sellers are legitimate is crucial. Here, we talk more about how to stay safe from marketplace fraud from the buyer’s and the seller’s side.

Businesses should always be vigilant, whether it involves screening for sanctions, detecting suspicious account activity, evaluating merchant risk, or monitoring transactions. Thankfully, many of these processes can now be automated, helping payment processors stay compliant with the ever-changing AML requirements.

One particular requirement of the Bank Secrecy Act (BSA) is that financial institutions are obligated to report cash transactions exceeding $10,000 within a brief period, regardless of whether they occur in single or multiple transactions. Continue reading to gain a better understanding of the BSA and its potential impact on your company.

Are you a business that provides age-restricted services or products? Or perhaps you are someone who wants to understand how an age verification system works. Either way, in this blog post, we’ll provide a clear explanation of how you can verify the age of customers online, comply with regulations, and ensure security in a simple manner.

Before forming a new business relationship, financial institutions must evaluate what level of due diligence suits the new customer. Whether it’s an account opening process on a financial platform or a potential customer looking to purchase real estate, companies must determine how much risk an individual presents: low, medium, or high risk of money laundering or terrorist financing.

Structuring can be a dangerous offense that signals crime. While structuring itself doesn’t always include illegally sourced money, it becomes a serious risk when done with the intention to disguise illicit funds. Join us to explore the key points of structuring in money laundering, its connection to smurfing, and the role of technology in combating fraud.

Yes, your identity can be snatched away in a second. While most think the classic motto of “this won’t happen to me” works, the reality in the digital world is different. With identity theft becoming one of the fastest-growing crimes in America and millions becoming victims of identity theft, this dangerous crime happens more often than you think.

The size of the KYC compliance software market was USD 9.50 billion in 2022. And there’s no surprise here. The rise in identity theft cases is a key driver behind the increasing demand for identity verification solutions. So the real question is – which one’s the best? We prepared a full checklist to help your business choose the right KYC compliance software.

Discover how Beera Station used iDenfy’s ID verification solution to build a remote age verification process and transform the onboarding flow through Tappster, an app that now enables age-appropriate customers to buy drinks seamlessly.

Regulated industries must identify PEPs and sanctioned individuals during customer onboarding to comply with KYC and AML requirements. Stay tuned to learn about the intricacies of these risk assessment processes, explore best practices, and safeguard your business from financial and reputational risks.

Customer due diligence solutions can collect and analyze large data volumes from multiple sources, helping companies more efficiently check ID documents, financial records, and overall online presence. But it all sounds easier than it actually is in practice.