What is a Risk-Based Approach to AML?

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.

Gabija Stankevičiūtė

New Account Fraud: Alarming Red Flags and Ways to Fight Back

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.

Gabija Stankevičiūtė

Case Study: Neobridge

Find out how Neobridge increased its identity verification pass rate by
77%, reduced verification time to 2 minutes and minimized costs by switching to a fully automated KYC/AML compliance workflow.

Gabija Stankevičiūtė

How to Improve KYC Verification? Tips For a Frictionless User Experience

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.

Gabija Stankevičiūtė

What is Watchlist Screening?

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.

Gabija Stankevičiūtė

Know Your Patient (KYP): How to Prevent Fraud in Healthcare?

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.

Gabija Stankevičiūtė

What is AML Screening?

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.

Gabija Stankevičiūtė

Case Study: GOAT Finance

Discover how GOAT Finance improved its KYC compliance pro with iDenfy’s identity verification, boasting a 97% user acceptance rate in just 2 minutes on average during the customer onboarding process.

Gabija Stankevičiūtė

What is Chargeback Fraud?

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.

Gabija Stankevičiūtė

KYC in Online Gaming (iGaming Guide 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.

Gabija Stankevičiūtė

How Does Age Verification in the Adult Industry Actually Work?

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.

Gabija Stankevičiūtė

Top 5 Marketplace Fraud Examples You Should Know

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.

Gabija Stankevičiūtė

The Role of AML Requirements for Payment Processors

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.

Gabija Stankevičiūtė