August 25, 2023
A Risk-Based Approach, known as RBA, facilitates proactive risk management rather than a post-analysis of a money laundering incident. It’s one of the most used terms in Anti-Money Laundering (AML) compliance. A risk-based approach to AML helps companies focus on preventing money laundering, bribery, corruption, or terrorist financing while taking dynamic precautions against financial crime. Read more.
August 22, 2023
New users are great…Unless they turn out to be fraudsters creating accounts only for their devious scams. Yet, companies always search for ways to attract new customers who help them scale and earn profit. But what about protection? We explain how not to get tangled up in the growing threat of new account fraud.
August 10, 2023
KYC verification shouldn’t take multiple steps and more than five minutes. Compliance regulations are getting stricter, at the same time, customers are getting more demanding. Now that not only banking, but sectors like crypto or online gambling are regulated, many consumers don’t want to disclose their identities, not to mention get stuck during a lengthy identity verification process. Read more.
August 3, 2023
Watchlist screening is a vital process and a part of the AML compliance program, which mandates financial institutions and other regulated entities to check if their customers and business partners appear in certain databases, including global watchlists, including crime and sanctions lists. Read more.
July 31, 2023
KYP is a necessary measure for healthcare professionals when preventing data breaches, drug abuse, medical identity theft, and other fraudulent activities. Most importantly, a properly implemented digital KYP process can help any healthcare organization onboard its patients easily, preventing criminals from using stolen credentials or personal details to access healthcare services. Learn more.
July 27, 2023
Rapid technological advancements, inconsistent regulatory frameworks in different jurisdictions, or complexity in the modern financial scope all play crucial roles in one thing — yes, we’re talking about facilitating money laundering. In this context, AML screening, or checking whether potential customers pose risks of money laundering, is vital. Read more.
July 25, 2023
Chargeback fraud happens if a customer opens a transaction dispute with their payment provider, either for legitimate or fraudulent purposes. While this process is particularly designed to fight crime, businesses, especially e-commerce merchants, have experienced many challenges, with one major issue being substantial financial losses. Find out how to prevent chargeback fraud and identify legitimate chargebacks.
July 20, 2023
Online gaming companies are part of the regulated iGaming industry, where there are many strict Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements. Sports betting, online casino, video game or poker betting platforms must verify the user’s identity, their source of funds and location. Learn more.
July 14, 2023
Adult-oriented platforms take up a huge part of the demand for Know Your Customer (KYC) solutions in the entertainment sector. To businesses selling age-restricted items and services, age verification is an effective tool to safeguard minors from accessing NSFW content. Learn more about services that need adult consent and, more specifically, the age verification process.
July 12, 2023
The popularity of marketplaces is skyrocketing, but with more companies switching to the digital realm, both buyers and sellers encounter new risks related to different types of fraud and scams. So learning about the risks behind anonymity and determining which sellers are legitimate is crucial. Here, we talk more about how to stay safe from marketplace fraud from the buyer’s and the seller’s side.
June 30, 2023
Businesses should always be vigilant, whether it involves screening for sanctions, detecting suspicious account activity, evaluating merchant risk, or monitoring transactions. Thankfully, many of these processes can now be automated, helping payment processors stay compliant with the ever-changing AML requirements.