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Identity Verification Stories

Fraud Scoring – Real Time Risk Monitoring

A prevention and detection tool is designed around fraud scores to indicate how high or low fraud risks are. These risk detection solutions allow financial institutions and other businesses to ascertain if the parties they are dealing with are genuine or not. Since financial transactions between such parties are a complex process, there is a …

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Fraud Week: What Is It and Why It’s Important

The discussion about fraud is ever-present in various industries worldwide – and for a good reason. Throughout the years, we, as a society, began to value transparency and fairness to a much greater extent than we did before. Fraud is directly opposing these values, and the demand for attention and prevention of fraud is rising …

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Politically Exposed Person (PEP): Risks and Screening

Throughout the years, governments and institutions try to reduce corruption, fraud, and other illegal and immoral activities globally. It would be tough to find a country with little to no regulations on financial institutions. Anti Money Laundering (AML), Know Your Customer (KYC), and Know Your Business (KYB) guidelines are expanding each year in an attempt …

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Why Know Your Business (KYB) is Important?

The modern, technologically advanced world demands its’ inhabitants to follow an ever-increasing number of guidelines to prevent financial, governmental, and other institutions from disaster. Business verification is one of them. The digitization of our everyday lives sets the stage for more devious fraudulent activities than ever before. And even if it usually gets unnoticed by …

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Synthetic Identity Theft: How to Prevent it?

With the modern age growing upon us, it becomes increasingly difficult to adjust to the acceleration of technology and the various challenges it brings with it. Traditional mediums are quickly being replaced by their digital counterparts, and various companies, as well as institutions, are struggling to catch up to the rising needs of cybersecurity. A …

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Is Video Identification just about a VIDEO?

As the financial and banking sectors shift more and more of their services to digital platforms, the need for remote identification services is higher than ever. But more reliance on digital platforms means more significant cyber threats. Fraudsters and scammers are getting smarter with each day, looking for an opportunity to pounce on prey. The …

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Digital Onboarding: Definition, Types and How it Works

With fast digitization that blurs the boundaries between the physical, digital, and biological world, companies focus on connecting with both employees and customers. And with the prevailing time over the world, there is a significant push to improve the existing digital onboarding. The move allows a company to boost its sales figures and public image …

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PDF417 And iDenfy’s Barcode Scanning Feature

A barcode is a simple way of data representation through a visual, machine-readable form. Representing data through a machine-readable format is an effective way that is used worldwide: from government documents to grocery billing, etc. Among its many forms, PDF417 is a popular barcode type that is in use today. The PDF417 barcode is a …

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