Blog, Identity & KYC
KYC/AML Compliance in light of FinTRAC
Witnessing the updated AML/CTF regime; the guidelines by FinTRAC regarding ID verification have b...
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AML and KYC Compliance – Big Data Optimising the Regulatory Landscape
Today, different sectors face an influx of user data that they need to process and analyse. To de...
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A Brief Insight into Crypto Regulations in the Asia-Pacific Region
The Asia-Pacific region is one of the areas with the highest rate of crypto adoption. Considering...
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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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Third-party Due Diligence – Red Flags, Regulations and 5 Ways to Enhance It
The majority of businesses depend upon a third-party in one way or the other. Contractors, suppli...
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ICOs blocking investors from USA and China – Why and How?
Initial Coin Offerings, more commonly known as ICOs, are all the rage in modern day financial wor...
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Global Trade and Prevalent Crimes – How Shufti’s AML Solution Can Help
International trade is exchanging services, capital, and goods across borders or territories, gen...
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7 Best KYC and Fraud Prevention Tips for Online Businesses
With the explosion of internet and web applications, the online interaction between consumers and...
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Customer Risk Assessment – A Landmark Approach to Fight Identity Fraud
Identity theft is the most prominent cybercrime which has raised alarms for global law enforcemen...
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OCR Vs. ICR: The Key Differences that Businesses Need to Know
Financial institutions need to have reliable and efficient data management. With such a system, t...
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Shufti Beyond Borders – Customer Experience That Drives Results
About Stanton Brooks
Stanton Brooks is a global customer experience (CX) leader specializing in d...
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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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COVID Passports – Bringing Convenience to the Travel & Tourism Sector
“Sorry, the earth is closed today.”
Tony Stark’s sarcastic dialogue became the worst possible re...
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How Optical Character Recognition Improves the Process of Identity Verification for Businesses
Evolving technologies have created a competitive market where every business strives to optimize ...
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European Payments Initiative Calling for IDV Solutions
The rise in the popularity of Visa and Mastercard in Europe, both US-headquartered companies, was...
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Facial recognition technology grooving into cruise ships for ID verification
No more boarding frustration, no more standing in the queues for hours…
The travel industry is re...
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e-IDV: Improving Client Onboarding for Banks and FinTech
Individuals and business owners often face significant time constraints when visiting banks physi...
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Video KYC Verification – Reimaging Customer Onboarding in 2023
As technology is advancing so do fraudsters, ringing security alarms for financial businesses and...
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Blog, Financial Crime / AML
South Korea want Crypto Exchanges to adopt Digital KYC and AML Compliance
South Korea is soon going to adopt regulatory measures to bring in crypto exchanges under regulat...
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6 industry experts explain the role of KYC in cybersecurity
Cybersecurity is no more limited to firewalls and antiviruses. It is protecting your system, empl...
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Know your patient process explained [Under the GPhC’s guideline]
How to make sure that the patient qualifies for purchasing a restricted medicine?
Or
Someone re...
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Securing Business Operations with Address Verification in 2024
A key component of enhancing customer service and reducing fraud is gathering and validating addr...
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The Importance of KYC Remediation to Prevent Financial Crimes
If we talk about financial institutions including banks and their processes, one can freely argue...
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Blog, Financial Crime / AML
AML Rules for Virtual Currency and Legal Sector – FATF 2019
Financial Action Task Force (FATF) is an inter-governmental regulatory authority. It was founded ...
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Prevailing Identity Fraud in Telecom Sector – How Shufti Can Reduce the Risks
The telecommunication industry holds significance for the information sector as it is primary inf...
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What is an OCR Screening and How Does it Work?
In our digital environment, where automated technology has already taken over corporate processes...
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Anti Money Laundering, Blog, Identity & KYC, Reg Tech
RegTech – FATF Guidance for Digital Identity Verification
Regulatory authorities have recognized the benefits of technology and its use for seamless regula...
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The 5 Pillars of Anti-money Laundering Compliance
Imposters often “launder” money acquired through illegal activities, like drug trafficking, so th...
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UAE Government Stepping Up Against Prevalent Crimes
The UAE is known for being home to flourishing businesses and providing a significant level of fi...
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FATF’s June 2021 Plenary – Strategic and Country-specific Initiatives
The fourth plenary meeting of the Financial Action Task Force (FATF) took place from June 20-25 t...
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Compliance and conversions don’t have to be at odds
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Anti-Smurfing Solutions | Safeguard Your Business Against Money Laundering Risks
Businesses are under constant threat of financial damage. This is primarily because cybercriminal...
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AML Screening – Solution for Luxury Goods Market to Fight Financial Crimes
Luxury goods and high-valued assets are frequently but not always found at the integration stage ...
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Secure Your Digital Presence | Combat Transaction Fraud and Cyberthreats with IDV
Financial crimes, especially payment and transaction fraud, have seen a massive surge in recent y...
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E-Signature Verification | Why Businesses Should Consider Adopting It
Physical paperwork is a thing of the past now. It is a time and labour-intensive task that requir...
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Evolving Regulations Shaping Digital Crypto Ecosystem – How Shufti Can Help
Since the start of civilization, humans have used money in several different ways, and throughout...
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Blog, Financial Crime / AML
Impact of Canada’s Evolving AML Regimes on Your Business
Canada’s AML regulations changed a lot in 2019. More rigid AML regulations are imposed on all typ...
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The Priorities – FinCEN Issues First Governmentwide AML/CFT Guidelines
What is the Goal of FinCEN’s AML/CFT Priorities?CorruptionCybercrimeFraudProliferation FinancingT...
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Designing for the World: UX, Automation & Inclusivity with Lisa Kleinman
About Lisa Kleinman
Dr. Lisa Kleinman, Ph.D. is a UX leader, researcher and design strategist who...
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Top KYC Compliance Laws to Follow in 2023
The rising number of scams has put a dent in the financial sector’s reputation.
More than t...
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Digital COVID Pass: Automated COVID Report Verification
The worsening situation of the pandemic has forced authorities to impose restrictions on several ...
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Gambling Compliance or Data Protection? The Puzzle is Solved!
The evolving regulations for the gambling industry are likely to increase compliance challenges i...
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7 Ways to Protect Business and Remote Staff from Cybercriminals
Businesses are facing ‘new normal’ as the workplace has shifted from offices to homes amid corona...
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AML Compliance in the Insurance Sector – Red Flags to Look Out For
The insurance sector commonly faces criminal activities like money laundering and terrorist finan...
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Leveraging Age Assurance for Data Privacy and User Protection
Online age verification has gained great attention in recent years since many minors have been se...
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Debunking the Top 7 Myths about Video KYC with CEO of Shufti
Businesses were looking for more robust and remote ways of verifying the identities of customers ...
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Japan’s Act on Personal Information Protection – What Businesses Must Do
New and emerging ways to bypass verification checks have allowed fraudulent entities to breach th...
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AI-based IDV Can Effectively Curb Unemployment Insurance Fraud
Throughout the United States, an emerging scam has taken the nation by storm. Unemployment Insura...
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Electronic Identity Verification | Technology and Regulations
Demand for efficient AML and KYC solutions increases as criminals develop more complex methods of...
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AML Screening – Revealing the True Identities of Ultimate Beneficial Owners in Businesses
Hiding the Ultimate Beneficial Owners (UBOs) behind a business is never a good sign. However, som...
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FinCEN Files – Banks abandoning front-line defenses against money laundering
Banks and financial institutions are under the continuous scrutiny of regulatory authorities, yet...
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Anti Money Laundering, Blog, Reg Tech
RegTech facilitates effortless AML Compliance
The latest report by Research and Markets states that RegTech industry is expected to grow...
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Know Your Player | Onboard Verified Gamers and Scale Globally
In today’s digitised gaming world, player verification stands as a cornerstone for onboarding leg...
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AUSTRAC’s ML/TF Risk Assessment Report on Foreign Subsidiary Banks [Part 4]
This blog covers the last chapter of our four-part series on AUSTRAC’s money laundering and terro...
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Know Your Patient (KYP) | Significance in Fighting Patient Identity Theft & Scams
The global medicare industry is a common target for fraudsters looking to gain access to patients...
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Effective AML Compliance – Top 5 Tips for Businesses in Australia
Given the significant increase in money laundering and terror financing activities, many countrie...
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Gold Industry and Prevailing Financial Crimes – How Shufti’s AML Screening Can Help
Using gold for financial crimes has a long history and in many countries, jewellery is not only c...
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Identity Fraud in Coworking Spaces – How Shufti’s Facial Biometric Authentication Helps
With more and more companies embracing remote work, the trend of coworking spaces is picking pace...
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Biometric Authentication: Use Cases and Advantages
What is Biometric Authentication?
Biometric authentication refers to the process of using unique ...
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OCR in Banking | Automating Data Extraction, Customer Onboarding, and ID Verification
The global Banking and Financial Services Industry (BFSI) is one of the most heavily regulated an...
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Role of Enhanced Due Diligence in Combating Money Laundering
Enhanced Due Diligence (EDD) is an advanced and refined version of KYC due diligence process that...
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Bitcoin ATMs – how it works and KYC compliance
Bitcoin ATMs are everything an ATM is and isn’t.
The world of finance and banking has chang...
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Artificial Intelligence, Blog
Knowledge Based Authentication a Thing of Past
If you are wondering what is knowledge-based authentication or KBA, let me ask you a question, ‘w...
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A Fintech’s Journey to 100% Compliance and Rapid Growth
My EU Pay, a specialist payment institution serving hundreds of business customers in the U.K. an...
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Basel AML Index 2021 – Evaluating the Risk of Money Laundering Worldwide
The threat for money laundering and terror financing continue to increase with global a...
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AML Compliance in the Insurance Sector – Red Flags to Look Out For
The insurance sector commonly faces criminal activities like money laundering and terrorist finan...
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Liveness Detection and IDV: An Overview of Biometric Facial Recognition
Identity fraud and cybercrime have significantly surged in the past few years. Deepfake technolog...
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How Businesses Can Avoid Identity Verification Fraud in 2019?
With a bulk of customers using online services, businesses wish to digitise their operations and ...
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Blog, Fraud Prevention, Identity & KYC, Reg Tech
Facial Recognition: Burgeoning Threat to Privacy
The expanding use of facial recognition technology for ID verification, user authentication, and ...
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6 Industry Experts Share Their Thoughts on NFC ID Verification
Thanks to the growth of contactless transaction systems like Apple Pay, NFC is now a mainstream t...
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Holiday Season – The Time of the Year When Frauds Soar Sky High
Despite being the “most wonderful time of the year”, the holiday season is known to have the high...
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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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