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 …
Gabija Stankevičiūtė
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 …
Gabija Stankevičiūtė
The Journey of iDenfy – Where It Began and Where It is Moving
On August 27, iDenfy celebrates its fourth birthday. In human years we are but a toddler, yet the development of our organization mirrors the growth of hard-working and responsible adults engaged in the company. I, CEO of iDenfy Domantas Ciulde, wish to look back and share our journey as well as project into the future! …
Gabija Stankevičiūtė
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 …
Gabija Stankevičiūtė
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 …
Gabija Stankevičiūtė
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 …
Gabija Stankevičiūtė
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 …
Gabija Stankevičiūtė
Why Age Verification Matters to Online Businesses?
2020 changed the way the world functioned, leading to a redefining turn for the digital age. More people are engaging with technology and online network today than ever. And that has lead organizations and companies to design their business strategy with a 90% focus on online services. Providing online services is a practical, hi-tech, and …
Gabija Stankevičiūtė
Proxy Detection: Evolving as a Global Service
Proxies is a type of web connection that helps users bypass the network filtering system by changing the user’s IP address. It is also known as anonymous IP that serves towards hiding the web user’s actual IP address and physical location. The Proxy server acts as a gateway between the user and the internet. Though …
Gabija Stankevičiūtė
Enhanced Due Diligence: Checklist and Tips
When you start dealing in business, companies usually focus on the profit instead of who they’re dealing with. But as times change and online frauds increase staggeringly, companies are taking customer identity verification very seriously. The procedure involves proper customer identity verification to meet KYC guidelines. Failing to do so exposes the company to serious …
Gabija Stankevičiūtė
5 Industries that Artificial Intelligence Will Change Forever
People call this world we are living in “an age of disruption.” Today, industries are evolving and transforming at a staggering rate where small business is capturing a big market share. Technology is the backbone of our society and has touched everyone’s life in some form. There is a constant chaos of massive data flowing …
Gabija Stankevičiūtė
Identity Verification for Digital Wallet
Digital wallets have been around for more than a decade now. PayPal is one of the oldest digital wallets and was the first one to offer online banking services. As we reached 2020, when the global pandemic hits the world, online banking solutions and digital wallets become a critical solution. Hundreds of households who suffered …
Gabija Stankevičiūtė
First Party, Second Party, and Third Party Frauds
With each passing year, there is a significant rise in identity fraud. Identity fraud makes up a major part of online crime that involves different levels of impersonation or fake portrayal. As the number of frauds increases, so do the victims. And if there are victims, that means there are fraudsters as well. These fraudsters …
Gabija Stankevičiūtė