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All Blog Identity Verification KYB/AML Regulations by Country Use Cases

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.

Account takeover (ATO) remains one of the most popular forms of identity theft and happens when a cybercriminal hacks into another account. In this guide, we’ll explore why user accounts are at risk, the techniques hackers use to gain access, and of course, the measures businesses and their users must take to keep all accounts secure.

Learn how Mano Bank achieved a fully automated identity verification workflow, improved customer value with 85% of new clients being approved in an average of 2 minutes, and ensured faster scaling without requiring any KYC in-house specialists to be hired.

Collection, extraction, validation and verification. These are the vital steps of the document verification process. But what else goes into deciding whether a document, such as a bank statement or an employment record, is actually legitimate or not? We go deeper into this subject, discussing the benefits of online document verification.

Read the case study to find out how June used iDenfy’s ID verification software to switch from a manual to a fully automated applicant onboarding process.

Corporate KYC refers to the verification process of businesses and related individuals to ensure regulatory compliance. Although financial institutions are the only organizations required to perform corporate KYC, any company can benefit from it, especially those that provide services to other businesses.

The KYC onboarding process is crucial for any company that wants to ensure customer trust and credibility. Companies must build an efficient and seamless onboarding to create a positive customer experience from the beginning, setting the tone for the entire customer relationship.

Businesses perform different levels of Know Your Customer (KYC) processes on their customers, namely Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD). To understand CDD and EDD better, we’ll discuss the differences and key aspects of how to ensure proper compliance for low-risk and high-risk customers.

Amazon, eBay, AliExpress. These are just a few of the household names that have been ruling the e-commerce world. While e-commerce has been successful in providing convenience to customers, it also poses challenges for businesses, such as fraud and money laundering. If left uncontrolled, e-commerce brands can face revenue loss and other major consequences.

Read the case study to learn how Residenture used iDenfy’s end-to-end identity verification solution to build a fully automated onboarding flow.

In this article, we share the essentials about what the new regulation, DAC7, is and how it affects online marketplaces. Learn more about the EU tax transparency rules and prepare your business for the changes.