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

Before forming a new business relationship, financial institutions must evaluate what level of due diligence suits the new customer. Whether it’s an account opening process on a financial platform or a potential customer looking to purchase real estate, companies must determine how much risk an individual presents: low, medium, or high risk of money laundering or terrorist financing.

Structuring can be a dangerous offense that signals crime. While structuring itself doesn’t always include illegally sourced money, it becomes a serious risk when done with the intention to disguise illicit funds. Join us to explore the key points of structuring in money laundering, its connection to smurfing, and the role of technology in combating fraud.

Yes, your identity can be snatched away in a second. While most think the classic motto of “this won’t happen to me” works, the reality in the digital world is different. With identity theft becoming one of the fastest-growing crimes in America and millions becoming victims of identity theft, this dangerous crime happens more often than you think.

The size of the KYC compliance software market was USD 9.50 billion in 2022. And there’s no surprise here. The rise in identity theft cases is a key driver behind the increasing demand for identity verification solutions. So the real question is – which one’s the best? We prepared a full checklist to help your business choose the right KYC compliance software.

Discover how Beera Station used iDenfy’s ID verification solution to build a remote age verification process and transform the onboarding flow through Tappster, an app that now enables age-appropriate customers to buy drinks seamlessly.

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.

Discover how Mano Bank established a fully automated identity verification process, achieving faster scaling through a customized KYC process that adapts to various user flows.

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.

Find out how June increased its application conversion rates in problem regions and reduced average applicant verification time while maintaining the same high-quality user experience and KYC compliance standards.

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.