How to Check if a Company is Legitimate

Especially in business, signing a contract without doing detailed research can result in becoming a money laundering channel. That’s why in today’s complex digital environment, it’s essential to take your time to research every single company that you’re interested in doing business with. 

Gabija Stankevičiūtė

What is an Ultimate Beneficial Owner (UBO)?

It’s no secret that analyzing corporate structures and identifying customer identities can be a complex and lengthy process. Today’s businesses must comply with the ever-growing regulations and ensure that the company is safeguarded from being involved in suspicious activities. Institutions that follow Anti-Money Laundering (AML) rules and abide Counter-Terrorist Financing (CTF) need to review their …

Gabija Stankevičiūtė

Know Your Business Verification: All You Need to Know

Online fraud is an epidemic that has infected various industries. Many businesses are going digital, leaving gaps in their security strategies. With less transparency and more complicated regulations, companies choose to search for new automated fraud prevention tools that would help overcome cybersecurity and compliance challenges.

Gabija Stankevičiūtė

KYB: What’s The Difference Between KYC

The complexity of money laundering might be a challenge. With the right tools and proper risk assessment, the dangers of fraud can be controlled. More businesses have become aware of this issue, trying to minimize the risks with KYB or Business Verification. Despite that, the question remains ‘How?’, as the number of millions for non-compliance …

Gabija Stankevičiūtė
eKYC: the Future of Verification

eKYC Explained: The Road to Ultimate Digital Onboarding

One thing’s sure. We live in a modern age of technology that has many perks. With the help of the internet, you can find an answer to a complex question in seconds. Such power comes with risk. Today, one of the most talked-about topics is data breach and how the numbers of identity thefts and …

Gabija Stankevičiūtė
AML Screening and Ongoing Monitoring: Effective Risk Assessment

AML Screening and Ongoing Monitoring: the Guide

It’s no secret that money laundering is an issue that raises some concerns. The term was created at the beginning of the 20th Century when the world’s economy was affected by organized criminals or corrupt politicians. At that time, their earnings came from gambling, extortion, bribery, and theft. Naturally, the need to define the situation …

Gabija Stankevičiūtė
Politically Exposed Person (PEP): Risks, Screening and Regulations

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
What is Know Your Business

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
What is AMLD5?

What is AMLD5?

What is AMLD5 (Anti Money Laundering Directive 5)? Why AMLD5 is important and necessary? Danske Bank case, Panama papers, and paradise leaks are some of those money laundering scandals that have taken the entire world by storm. Such revelations of fraud have compelled governments and regulatory authorities across the globe to take rigorous steps to …

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