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Electronic Identity Verification | Forecasts and Predictions
Identities change as the world goes more digital. As more activities, like banking, socialising, ...
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Corporate Transparency Act – The Road to Better AML Compliance
According to the latest reports, the United States ranked number 1 for not complying with the ant...
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COVID-19 Pandemic – What it holds for businesses?
The year of the Rat, 2020, didn’t get a propitious start because of the deadly coronavirus outbre...
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Leveling Up Identity Verification To Meet This Moment
Companies around the world contend with two digital identity challenges that seem mutually exclus...
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The Ultimate KYC Checklist for 2023 to Ensure Regulatory Compliance
Non-compliance cost businesses billions of dollars. Regulators have charged financial firms with ...
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5 Key Questions about Facial Recognition Answered by Experts
Technology has definitely made life convenient but comes with a gazillion concerns from anyone wh...
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Beyond the Blue Checkmark – Online Age Verification Solution to Secure Minors’ Identity
As minors are going online and utilizing digital services as well as smart gadgets more frequentl...
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Online Privacy, Security & Inclusivity in a Digital World: Congress Hearing 2021
On 16 July 2021, the US Financial Services Task Force on Artificial Intelligence held a virtual h...
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Identity Verification – Combating Fraud in the Telecommunication Sector
Developing technology, rapid growth in digitization, and increased use of digital transactions ha...
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COVID-19 pandemic turning into a financial crime threat
A few months back when the World Health Organization (WHO) declared coronavirus a “pandemic” it l...
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Age Verification: Use Cases, Significance and Regulations
This pillar post talks about the significance of digital age verification, how it works, what are...
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Gambling Regulations in Germany Lay Ground for Robust Player Verification
User engagement towards digital platforms has been growing at an exponential pace for the past fe...
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Blog, Financial Crime / AML
AUSTRAC tightens regulations for enhanced AML Compliance
Australian regulator AUSTRAC has imposed a multi million dollar fine on Commonwealth Bank of Aust...
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Shufti’s ID Fraud Report: Reviewing 2022 and a Preview of 2023
Twenty years back, “identity theft” was imagined as pictures of shady figures rifling through gar...
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AML Screening | Fighting the War Against Terrorist Financing & Money Laundering
Money laundering and terrorist financing have become a global concern. In the US alone, approxima...
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Evaluating the Potential of Digital ID Verification Systems in 2022
Identity fraud and synthetic identities are skyrocketing and collectively account for a loss of ...
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Improving Identity Verification Processes Through Perpetual KYC – How Shufti Helps the Banking Sector
Banks are considered a subset of the financial services industry and play the most crucial role i...
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Blog, Identity & KYC
4 Reasons Why Brokerage Firms Need ID Verification?
According to Steve Grobman, Chief Technology Officer for McAfee, “The digital world has transform...
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4 Industries Where OCR Technology Can Work Wonders
Today, online businesses need to meet the constantly evolving customer needs to survive market co...
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A Go-To Guide to Proof of Address Verification in 2024
Customer identity verification is significant in today’s digital world – from buying produc...
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Top 5 FinTech Trends to Keep an Eye on in 2023
From the lingering effects of the COVID-19 pandemic to the sudden cryptocurrency market crash, 20...
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Blog, Identity & KYC
KYC and AML Compliance can help cryptocurrencies to earn legitimacy
Cryptocurrencies are currently limited in use by virtual currency enthusiasts or by lottery bidde...
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Digital customer onboarding – Revamping onboarding process in banks
The first impression is what counts most when it comes to customer-oriented services. Banks and f...
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Age Verification Service – How Businesses can Identify Underage Visitors in Real Time?
When it comes online retail, one has to know that in such an age of fast-moving technology and in...
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The Top Customer Onboarding Tips for Businesses
Today every business is competing to boost their retention rate and offer their audience a secure...
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Top 5 Non-banking Industries in the Crosshairs of Financial Criminals
The first half of 2021 saw significant disruption in the financial world as traditional criminal ...
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Brazil to Launch CBDC: Its Impact on Financial Firms and How KYC/AML Can Help
Where does the cash come from? The country’s central bank authorises the printing of paper ...
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Indonesia’s First-ever Comprehensive Law on Data Privacy – the PDP Bill
Being the largest economy in Southeast Asia, Indonesia is experiencing enormous growth in the dig...
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Enhancing Workplace Safety: The Role of Employment Screening
Recruiting new hires can often be a daunting task, as it is a time-consuming and work-i...
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Blog, Business Technology
Why have IPOs started Implementing Digital KYC?
Have you heard the phrase “I’m afraid we have to go public Mark”, well then you are on right page...
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How ID Verification can Help you Boost your Revenue in 2019?
For years now banks have been using laid back and inconvenient methods for ID verification of cus...
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Blog, Financial Crime / AML, Fraud Prevention, Identity & KYC
Data Breaches – Types, Sources, and Preventive Measures
A large number of well-renowned companies are under the threat of high-scale data breaches. After...
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January 2023 Recap: Major Events Worldwide and How AML Verification Solution Can Help
Noncompliance with Know your Customer and Anti Money Laundering (KYC) regulations continue to pla...
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ID verification prevents 8 Security Issues of businesses
The biggest concern for businesses, in terms of safety, nowadays is online or cybersecurit...
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5 Best Practices to Combat Identity Fraud on Social Media Platforms
Social media has demonstrated extraordinary growth in the past decade as a result of improvements...
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Securing Gig Economy Operations and Contributing to the Growth with KYC Solutions
Startups, SMEs, and the gig industry have seen unprecedented growth. Not to mention, COVID-19 was...
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Blog, Online Marketplace
Why age verification matters to online businesses?
Identity verification services are fast becoming a business norm for companies that are enthusias...
Blog
A Detailed Insight Into Canadian Gambling Industry [2022 Update]
Even though Canada is not among the world’s gambling capitals, this business thrives there. The c...
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The Latest AML Violations and the Role of Transaction Monitoring
In the evolving regulatory landscape, combating financial crimes has become a top priority of reg...
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AML/KYC 2020 – how 2019 changed the landscape of global regimes?
Copy pasting your 2019 AML/KYC compliance strategy to 2020 plan will not do the job. Businesses n...
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Rethinking Trust in Crypto: How Digital Identity Verification Will Power the Next Phase of Growth
The crypto industry is at a crossroads. After a decade marked by disruptive innovation and volati...
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A Brief Insight into Safe Havens for Russian Oligarchs
The recent Russia-Ukraine conflict has sparked the West to impose sanctions targeting the Russian...
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Source of Funds | A Critical Step in Mitigating the Risk of Money Laundering
As the world continues on a path of digitization, business operations persist to undergo signific...
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HKMA’s Risk Assessment Guidelines for AML/CFT Compliance in the Banking Sector
In the past few years, global regulatory authorities have been laying new grounds for Anti-Money ...
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Biometric Facial Recognition – Combating Identity Fraud with Shufti’s IDV Solution
Since knowledge-based authentication and passwords were first introduced, security systems in ban...
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20 Facts and Statistics About the Global Finance Sector
The finance sector makes up around 20 to 25% of the global GDP. With the market capitalization re...
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Transaction Screening: The Benefits and Challenges
Financial crimes are rising, wreaking havoc on organisations and individuals. The fraud rate has ...
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6 Upcoming Trends In Blockchain And Cryptocurrency For 2021
2020 was unlike any other year. It was chaotic, happening, and has finally come to an end.
In the...
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Blog
Risk Assessment and Management | Why do Businesses need it?
B2B partnership always carries risks that must be managed whilst staying compliant. Business part...
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Blog, Business Technology, Online Marketplace
Asian Banks push for greater Fintech to cut down AML Compliance cost
Asian Banks are now asking their regional and national regulators to allow more fintech in order ...
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Enhanced Due Diligence – How to Identify and Deal with High-Risk Customers
Business relationships always come with associated risks that require carefully implemented measu...
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Top 7 COVID-19 Related Scams and Frauds to Look For in 2021
It has been more than a year since the COVID-19 pandemic took the world by storm. Where the globa...
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Blog, Financial Crime / AML
FSA demands greater AML Compliance from Japanese Crypto Exchanges
In a recent move, Financial Services Agency (FSA), the Japanese Financial regulator, has demanded...
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Blog, Fraud Prevention
Internet of Things: B2B IoT Segments about to hit $300 Billion by 2020
The Internet of Things is growing exponentially with respect to its usage and capabilities. A who...
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How Artificial Intelligence is taking ID verification to the next level?
Identity theft is deemed as a growing problem. Particularly with the increase in online shopping,...
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How ID Verification Helps in Fighting Digital Scams?
ID VERIFICATION: Digital scams are common phenomena and it affects all types of businesses in eve...
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4 Industries Where OCR Technology Can Work Wonders
Today, online businesses need to meet the constantly evolving customer needs to survive market co...
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Digital Identity checks for secure and swift customer onboarding
The digital transformation of businesses continues apace, driven in part by regulations that mand...
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AML Compliance – Korean Crypto Exchanges Join Hands to Fight Money Laundering
Cryptocurrency has been notoriously criticised for money laundering and other illicit activities ...
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5 Ways Banks Can Minimize Risks In Light of KYC/AML
If you’re dealing with customers across borders, how can you safeguard your bank by ensuring that...
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Blockchain and NFTs – Setting New Standards for Cybersecurity and Identity Management
Non-fungible tokens (NFTs) are an evolution over the emerging concept of cryptocurrencies. As fin...
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AML Compliance in the UK’s Financial Sector – What Shufti Offers
The UK is known in the global financial paradigm for being both a financial hub and the dirty mon...
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NFT Trading and Money Laundering – How Shufti’s AML Screening Helps Combat Financial Crimes
With revolutionary technologies and growing digitization, the digital version of artworks known a...
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Top 6 trends in Anti-Money Laundering for 2020
To enhance the scope of AML compliance, new regulations were brought into force throughout last y...
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The Reality Behind Money Laundering through Environmental Crimes
Environmental crimes are among the most prevailing and profiting offenses present in the world. C...
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A Guide to Understanding KYC in Banking
2022 has witnessed a rise in the number of fraudulent cases by 18% compared to 2021, damaging bus...
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Elevating Payment Security: The Crucial Role of Biometric Authentication
There has been a considerable rise in digital payment methods in recent years. People now prefer ...
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Blog
Strong Customer Authentication (SCA) – Factors, Methods, and Benefits
In Europe, new customer authentication requirements for online payments were introduced on Septem...
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Blog, Financial Crime / AML
What is PEP Compliance and Why do Financial Institutions Need it?
For Politically Exposed Persons (PEPs), an inter-governmental body established in 1989, Financial...
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Blog
Combating Money Laundering Threats in the Art and Antiquities Sector Through AML Screening Solutions
With transforming technologies and growing digitization, the global art industry has also embrace...
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Blog, Identity & KYC
Merchant Identity Proofing: Building Strong B2B Relations
Identity Proofing: The success of e-commerce has been very remarkable. It is expected that global...
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Blog
July 2023 Recap: Major Compliance Events and How AML Verification Can Help
Anti-Money Laundering (AML) violations pose a substantial and concerning threat to the reliabilit...
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