Blog
UK Watchdogs Hit Financial Institutions with Record AML Fines in 2021
A dramatic increase in Anti-Money Laundering (AML) fines was seen in 2021 as financial watchdogs ...
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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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Difference between KYC and AML
The growing Fintech industry leads to an increased demand for KYC and AML compliance requirements...
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Integrated Compliance Management – Mitigating the Regulatory Risks
Businesses operating in the financial sector often face organizational and compliance challenges....
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Understanding eKYC | The Benefits, Processes & 2024 Forecast
Governments worldwide require firms, such as financial institutions, to know who their customers ...
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Travel Fraud and the Crucial Role of e-IDV
The travel sector is booming in this age of digitisation, and air travellers are estimated to dou...
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Protect Your Business Against Identity Theft with Face ID Check
The efficacy of biometric authentication becomes questionable in the face of facial ID checks. It...
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Money Laundering Through Cryptocurrency: Red Flags and AML Risks
As the use of virtual assets becomes widespread, crypto firms have a major dilemma to deal with &...
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Know Your Patient (KYP) – the next big thing in health care
Its high time the hospital industry must think beyond providing just giving medical assistance to...
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Vendor due diligence – Why it’s important and how it’s done?
In today’s ever-changing corporate landscape, businesses are always looking for ways to make thei...
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EU’s Smart ID Wallet – Paving the Way for a Seamless Digital World
A few days back, the European Union Commission published a draft for digital ID wallets for all t...
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The Digital Black Market for Identity Data
The collection, purchase, or trade of customer data is big business. Unless organizations and ind...
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Anti Money Laundering, Blog, Business Technology, Financial Crime / AML, Identity & KYC
Global Economies are joining forces with FATF against money laundering
Financial Action Task Force (FATF) has been very keen on eliminating financial crime (money laund...
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Blog
Identity Fraud and Risk Assessment: An Ultimate Guide for 2023
Customer onboarding and business relationships always come with associated risks that must be han...
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AML Screening – Identifying and Overcoming Challenger Banks’ Weaknesses
There are approximately 77 challenger banks in Europe alone, the best range amongst the other reg...
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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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Blog, Financial Crime / AML, Reg Tech
AMLD5 – Regulations catching up with Technology
In this era of technology, it is a common saying that “Innovation leads and regulation follows.” ...
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Blog
Effective Sanctions Screening | A Guide for Compliance Professionals
Sanctions are crucial in combating financial crimes and maintaining national and international se...
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Dirty Funds & Tax Evasion – Can the Crypto Sector Be Safeguarded?
2021 has turned out to be another eventful year for the cryptocurrency sector. In just a span of ...
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Online Dating Activities, Surging Crimes and Shufti’s IDV Solution
Matchmaking is considered one of the oldest industries in existence, online dating is now having ...
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The Role of KYC Protocols in Safeguarding the Future of Cryptocurrency
Despite volatility in the crypto sector, millions of individuals access their services worldwide....
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Know Your Patient – Balancing Security, Customer Experience and Compliance in the Healthcare Sector
As the healthcare industry continues to offer life-critical services while making efforts to impr...
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How to Protect Yourself From Cyber Crime in the Holiday Season?
Most people around the world do the majority of their shopping during the holiday season. Accordi...
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Estonia’s AML Act Amendments – Securing Virtual Currencies in 2022
Estonia’s financial institutions are developed and ensure transparency as its laws are well-defin...
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Blog
Know Your Business (KYB) | Ensuring Financial Security
The Know Your Business solution standard verifies a company’s legal standing and confirms i...
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Blog, Financial Crime / AML, Reg Tech
AMLD5 – Regulations catching up with Technology
In this era of technology, it is a common saying that “Innovation leads and regulation follows.” ...
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Blog
Identity Verification – Addressing the Challenge of Fraud in the Telecommunications Sector
Transforming technology, growing digitization, and increased use of online transactions have acco...
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Blog, Identity & KYC
Why Does ID Verification Fail in 2025? – Causes & Fixes | Shufti
Introduction
Identity-verification (IDV) is the gatekeeper of the digital economy, but it still s...
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Blog
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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KYC/AML Compliance – A Roadblock for Money Mules and Illicit Fund Transfers
Cybercrimes are becoming increasingly complex and diverse in the era of digitization, with frauds...
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A Detailed Insight into Due Diligence for SMEs in Europe
Recent developments in due diligence legislations have prompted debate on SMEs being subject to t...
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Age verification regulations demanding better compliance from businesses
“Youth is the hope of our future.” Jose Rizal
It is no secret that the youth is a valuable asse...
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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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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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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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Money laundering and UAE’s KYC/AML Regulatory Regime [2022 Update]
The United Arab Emirates (UAE) has become the world’s most exotic and well-reputable financial hu...
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Blog, Fraud Prevention
Cryptocurrency Scams – Checklist for Protection
Headlines about some cryptocurrency exchange being hacked are not unusual. So far, hackers have s...
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Blog
How E-KYC is Overcoming the Hurdles of Financial Inclusion
The challenges associated with the global pandemic have risen at a bewildering speed and yet ther...
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Blog, Financial Crime / AML
Challenges of AML Compliance under FinCEN
AML Compliance for US based Cryptocurrency companies has been tightened by Financial Crimes Enfor...
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Blog
Shufti’s AML Screening Solution – How to Comply with Germany’s AML Regulations
The stability of the global economy is at risk pertaining to the rapidly growing issues of money ...
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The Most Frequently Asked Questions about Video KYC
In today’s digital era, the escalating prevalence of identity theft poses a significant con...
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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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Verifying Donors and Origins of Charitable Funds with Identity Verification
Like any other financial institution, charity organisations are also equally vulnerable to moneta...
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A Basic Guide to Intelligent Character Recognition (ICR)
With technological advancement, businesses are finding new ways to leverage digital sol...
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UK’s FIU Issues New Guidelines for Suspicious Activity Reporting
The UK’s Financial Intelligence Unit (UKFIU) has issued new guidance in August 2021. The latest i...
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Enhancing Trust in eCommerce with AI-powered Identity Verification
eCommerce in today’s world involves utilizing evolving technologies to ensure convenience for cus...
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Blog
A Brief Overview of the RegTech Industry [2022 Update]
The rising financial crimes have raised concerns of global regulatory watchdogs giving rise to Re...
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Blog
The Expected No-Deal Brexit and AML/CFT Laws in the UK
The current prime minister of the UK Mr. Boris Johnson made a statement that the UK should be rea...
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Blog
e-IDV: The Key to Fraud Prevention in FinTech
After years of enormous growth, investment in the fintech market declined in 2022. Susceptibility...
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Cybersecurity vs User Experience – Knowing the Art of Balancing
Several years of debate between cybersecurity and customer experience has driven most people craz...
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Blog
Top 5 Digital Banking Trends to Look Out for in 2022
2021 was fundamentally geared towards surviving the pandemic and its aftermaths. The pandemic-acc...
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Blog
Real Estate Crimes – What Meets the Eye is not only AML Compliance
Cleaning black money has always been the incentive behind every financial crime. Owing to this fa...
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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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Blog
KYC Isn’t Enough: Get Ready for the Future of Verification
Over the past few years, companies have been looking for more sophisticated identity verification...
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Blog
Top 6 Reasons Why RegTech Will Improve AML Compliance
Global fines imposed to deter money laundering increased by 50% in 2022, alarming businesses tha...
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Blog
Frequently Asked Questions about OCR Scanners
The way we process and analyse written information has been entirely transformed by Optical Chara...
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Blog
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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Blog
Understanding Risk Assessment in the Gambling Sector – 2025 Edition
Online gambling revenue is on track to exceed $150 billion globally by 2025, with Europe alone ge...
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Blog
ID Document Fraud | Is Your Business Prepared to Fight the War Against Fraud in 2024?
In today’s data-driven, digitized world, various business processes have been automated...
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Blog
Trade based money laundering – Challenges, detection and prevention
Back in 2006, Financial Action Task Force (FATF) emphasised on new measures and strategies for ba...
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Blog
Warning Signs of ICO Scams and the Role of Identity Verification Service
If you have heard of Bitcoins and cryptocurrencies then you must have heard of ICOs or Initial Co...
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Blog
Top 5 Most Common Identity Fraud Attempts in 2021
Fraudsters in the post-pandemic world took complete advantage of rapid digitization. Bad actors b...
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Blog
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
KYC Outsourcing vs. In-House Systems – What Should Businesses Opt For?
KYC requirements for financial institutions throughout the world come with a basic need for imple...
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Blog
Know Your Patient – Balancing Security, Customer Experience and Compliance in the Healthcare Sector
As the healthcare industry continues to offer life-critical services while making efforts to impr...
Explore More
Anti Money Laundering, Blog, Business Technology, Financial Crime / AML, Identity & KYC
Global Economies are joining forces with FATF against money laundering
Financial Action Task Force (FATF) has been very keen on eliminating financial crime (money laund...
Explore More
Blog
GDPR Checklist – Practices to adopt as Business Norms
It’s been a little over eight months since the GDPR came into effect on 25 May 2018. From that po...
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Blog
Five Things you Need to Know About Shufti’s Digital Identity Verification
The growing digital fraud, stringent KYC and AML regulations put in place, and the increasing bur...
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Blog
Address Verification: The Cornerstone of Elevating Customer Experience
Today’s highly emerging technology is changing the way consumers shop online products. Given the ...
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Blog
Inside the EU’s New Crypto-Assets Regulatory Regime – How Shufti Can Help
With transforming technologies, the use of cryptocurrency is skyrocketing, and a large number of ...
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Blog
The Most Common Cryptocurrency Scams and the Role of e-IDV
Cybercrimes and scams are rampant across the digital space, and cryptocurrency is no different. W...
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Blog
Age verification regulations demanding better compliance from businesses
“Youth is the hope of our future.” Jose Rizal
It is no secret that the youth is a valuable asse...
Explore More