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

Learn the key reasons why companies struggle with KYC challenges. Find out how to build a proper identity verification process while keeping up with the regulatory compliance requirements and increasing customer demands — all while exploring real-life use case examples from various industries.

One of the most important parts of the Anti-Money Laundering (AML) compliance package is transaction monitoring — a thorough practice of tracking customer transactions. However, how does it actually work in the context of fintech, and how can businesses improve this process? We explain it all in this blog post.

Did you know that the Financial Action Task Force (FATF) was created in 1989? Since then, they have set grounds for a more stable action plan against money laundering and terrorist financing. However, the level of complexity in financial crime is rising, and companies must be vigilant when it comes to different risks — or, as we call them — AML red flags.

Access the most recent information on address verification, including use case examples, and learn the key methods for confirming whether the provided address data aligns with the information provided by another individual or business.

Dive in to find ongoing monitoring examples, what it takes to stay KYC/AML-compliant, as well as the challenges that arise when trying to build a proper ongoing monitoring process.

Check hands-on walkthrough on configuring custom rules to streamline your AML compliance processes while onboarding new companies.

Find out the key use cases of reverification and learn why implementing this process can be a beneficial factor in both security and user experience.

Explore the latest review of best Identity Verification providers and recommendations on where each of the service excels the best.

We explore the concept of KYC automation and its use cases, explaining how AI-powered KYC software can improve internal compliance operations for businesses.

The verification of a Politically Exposed Person, or a PEP, is a mandatory requirement in regards to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. PEPs hold greater power due to their position of influence, which makes them more susceptible to fraud, including money laundering. This makes them higher-risk customers that need to be treated with an appropriate level of due diligence. Read more.

Reducing fraudulent chargebacks can be a lengthy and exhausting process for businesses. While international chargeback fraud is illegal, it seems that chargebacks are reaching sky-high numbers, and in some cases, traditional anti-fraud measures don’t help companies prevent such major losses. That’s why a robust strategy to mitigate chargeback fraud is crucial. It helps minimize losses, ensuring they are kept at the bare minimum of expected chargeback costs. Read more.

Know Your Customer or KYC in banking refers to the series of identity verification checks designed to verify customers. The KYC process helps banks and other financial institutions confirm that the person is who they say they are when registering on their online platform and opening a new account. But KYC doesn’t stop at the onboarding stage of the customer’s relationship. Read more.