Over the past few years, money laundering has turned into a disaster for firms and institutions associated with the financial sector. As a result, governments have been actively looking for innovative ways to fight against money launderers. They are putting various policies in place to prevent money laundering called anti-money laundering policies. In this post, […]
Know Your Customer or KYC is a vital customer identification tool that companies and financial institutions use during the customer onboarding process. Since its inception, KYC has become a significant tool to fight financial crimes and cyberattacks. Countering the financing of terrorism (CFT) and anti-money laundering (AML) define and constantly update their guidelines to fight financial crimes.
What is identity verification, and how it works? It is a question which often comes to our minds in nowadays world. What is Identity? An identity can be a series of specific claims that describe an individual. They may be comprised of fingerprints, date of birth, ethnicity, and other permanent traits. Traits that are semi-permanent might […]