The Top 10  Most Difficult Countries for Identity Verification

The Top 10  Most Difficult Countries for Identity Verification

Download Report

    n-img-roi-cross

    Before You Go, Schedule Your Free Demo Today

    Valid Invalid number


    Note: Fields marked with an asterisk(*) are mandatory.

    n-exit-img-roi-cross

    Thank you for your demo request

    We appreciate your interest and look forward to discussing how our solution can meet your needs. Expect to hear from us shortly with scheduling details.

    Close

    us

    18.97.14.88

    Hazards of Ransomware are real for Cryptocurrency Miners

    ransomware kyc aml shuftipro

    Cryptocurrency may well be the future of economic landscape and it has the potential of taking the entire FinTech category to a whole new level. But like any technological advancement, few elements and individuals always crawl out of their holes to make some easy buck by defrauding people. Well, unfortunately, cryptocurrency has also find its proverbial pirates. Cryptocurrency miners are now using ransomware to earn money off the people that might be interested in these new age virtual currencies.

    The appeal of cryptocurrency is fueled by the unsubstantiated rise in prices of Bitcoin over the few years. This increase in prices, gave rise to a trend where thousands of tech enthusiasts and people looking to earn easy money, lined up to benefit from Bitcoin bubble. Several of them even opted to mine these coins themselves to get even a better chance of earning sure shot profits. Now, this led to many hackers and online bandits to mine potential ransomware to earn even higher amounts. Some even launched their own coins and virtual currency to even avoid detection by authorities or crypto-vigilanties.

    What is a Ransomware?

    Ransomware works like a common malware but instead of leading to hacked crucial information or documents, the person attacking your personal computer locks down access to important and vital data. Access to that information is gained by the hacker by successful entry of ransomware to your computer. This can be in the form of a file that you clicked upon or a doctored software that you tried to install on your computer. In order to regain access to their files and important documents, users are asked by hackers to pay them specific amount of money, otherwise, their vital data will be deleted or dumped for good. Ironically, ransomware attackers even ask users to pay them in major cryptocurrencies like Bitcoin so that transactions are not traceable by authorities.

    A normal user of Personal Computer might not consider itself to be target of such an attack but trust us, when we say that the extent of hazards attached with ransomware are huge. Your personal photographs, your personal chat history, address books and credentials you use to login to your bank accounts from your home computer are all at risk, if you are attacked by a ransomware.

    Businesses and employees working in corporate sector are another regular target of ransomware. A simple click on an unsafe link from a workstation, has the potential to risk entire company’s digital databank and servers. In a recent global attack of ransomware, companies were made to pay millions of dollars to safeguard their important files, documents and data from permanent deletion.

    Case Studies of Ransomware via Cryptocurrencies

    The out of the box concept of using personal computers for virtual currencies mining is real subtle. Hackers have designed some well guised mining programs that specifically target computers that have either an outdated Operating system or that are using non-effective firewall against such brute force. Typically considered to be stowaways, these ransomware are very hard to detect and payments via cryptocurrencies remain largely untracked. Even when detected, it is very hard to remove and you have no other way to pay them off to rid your computer from these malicious bots. Not to mention, there is this huge blow to the performance of your PC due to a large, yet anonymous, workload.

    Although, it seems to be a dangerous path for crypto enthusiasts and people interested in ICOs but in actuality, if you do a proper research before buying cryptocurrencies, you will be safe. Don’t forget to check out reviews for an ICO from some leading crypto enthusiasts. Also make sure that you only invest in an ICO that already has placed stringent KYC and AML compliance measures. To avoid being targeted by hackers, make sure that you are using perfectly updated OS on your personal or work computer. A powerful firewall is also a must-have feature on your computer to ward off unwanted access to your computer.

    Recommended For You:

    Related Posts

    Blog

    Secure the Fintech Future with RegTech

    Financial Technology (Fintech) refers to the use of technological advancements in the financial i...

    Secure the Fintech Future with RegTech Explore More

    Blog

    FINMA Report Indicates Unchanged Cybercrime and Money Laundering Risks

    Money laundering, identity theft, and various other cyberattacks risk have been elevated over the...

    FINMA Report Indicates Unchanged Cybercrime and Money Laundering Risks Explore More

    Blog

    Identity Verification: A Bulletproof Vest Against Sharing Economy Fraud

    Over the previous year, you might have observed how the world has become increasingly dependent o...

    Identity Verification: A Bulletproof Vest Against Sharing Economy Fraud Explore More

    Blog

    Electronic Identity Verification | Technology and Regulations

    Demand for efficient AML and KYC solutions increases as criminals develop more complex methods of...

    Electronic Identity Verification | Technology and Regulations Explore More

    Blog

    KYC, KYB & KYT Tying the Loops for Identity Verification

    Digital fraudulent activities are rising with every passing day, businesses are adopting reactive...

    KYC, KYB & KYT Tying the Loops for Identity Verification Explore More

    Blog

    5 Industry Leaders Shared Their Insights on the Future of Biometrics

    Modern technology has brought several conveniences to life. From the ease of working at home to s...

    5 Industry Leaders Shared Their Insights on the Future of Biometrics Explore More

    Blog

    CCPA Compliance Checklist – Is your business ready?

    With the world moving towards digitization, organizations have a customer base from all around th...

    CCPA Compliance Checklist – Is your business ready? Explore More

    Blog

    Addressing AML Compliance Challenges with a Risk-based Approach (2023)

    Regardless of how big or small a company is, the after-effects of Covid-19 and the global financi...

    Addressing AML Compliance Challenges with a Risk-based Approach (2023) Explore More

    Blog

    Shufti’s Growth Skyrockets Above 100% in the Fiscal Year 2020

    In 2020, Shufti witnessed a remarkable growth of over 100%. Together with this, it can comfor...

    Shufti’s Growth Skyrockets Above 100% in the Fiscal Year 2020 Explore More

    Blog

    Safeguarding Financial Operations with Transaction Monitoring and AML Screening

    To enhance the power of anti-money laundering regulation, transaction monitoring systems have evo...

    Safeguarding Financial Operations with Transaction Monitoring and AML Screening Explore More

    Blog

    Cannabis Industry – Risks, Predictions, Fraud & KYC/AML Obligations

    The ever-growing industries across the world are opening gates for numerous opportunities to gree...

    Cannabis Industry – Risks, Predictions, Fraud & KYC/AML Obligations Explore More

    Blog

    Identification, Verification and Authentication – Cut from the same cloth

    The modern era of technology has brought so many frauds to light. The digitized world has urged b...

    Identification, Verification and Authentication – Cut from the same cloth Explore More

    Blog

    The Advantages of Know Your Business (KYB)

    Know Your Business (KYB) policies are a recent innovation in the field of fraud prevention. Since...

    The Advantages of Know Your Business (KYB) Explore More

    Biometric Technology, Blog

    Online Facial Recognition Could Drive a New Wave of Digital Transparency

    Online facial recognition is a much less explored territory when it comes to online identity veri...

    Online Facial Recognition Could Drive a New Wave of Digital Transparency Explore More

    Blog

    Shufti Beyond Borders – Customer Experience That Drives Results

    About Stanton Brooks Stanton Brooks is a global customer experience (CX) leader specializing in d...

    Shufti Beyond Borders – Customer Experience That Drives Results Explore More

    Blog

    Securing Investment Industry with Shufti’s Investor Verification Solution

    In this tech-driven world, perpetrators and organized crime groups are adopting sophisticated met...

    Securing Investment Industry with Shufti’s Investor Verification Solution Explore More

    Blog

    The Relentless Rise of Fraud in the FinTech Industry – How CDD Helps

    Fraud has always been on the rise ever since the advent of the FinTech industry. As perpetrators ...

    The Relentless Rise of Fraud in the FinTech Industry – How CDD Helps Explore More

    Blog

    Ultimate Adaptability: As Business Models Evolve, Identity Verification Must Keep Pace

    In this new series, we’re diving into the power of ultimate adaptability — what it is, and how it...

    Ultimate Adaptability: As Business Models Evolve, Identity Verification Must Keep Pace Explore More

    Blog

    Compliance and conversions don’t have to be at odds

    Compliance and conversions don’t have to be at odds Explore More

    Blog

    Fraud Prevention – Challenges, Strategies, Best Practices, and Technologies

    The twenty-first century is by far the most revolutionary time in the history of humans in terms ...

    Fraud Prevention – Challenges, Strategies, Best Practices, and Technologies Explore More

    Blog

    The Top Customer Onboarding Tips for Businesses

    Today every business is competing to boost their retention rate and offer their audience a secure...

    The Top Customer Onboarding Tips for Businesses Explore More

    Blog

    Shufti’s Address Verification Service – A Key Step in Digital Identity Verification

    The rapidly developing technology of today is altering how consumers browse for things online. Th...

    Shufti’s Address Verification Service – A Key Step in Digital Identity Verification Explore More

    Blog

    Transaction Monitoring: Going Beyond AML Screening

    Whether you are an accountant in Wall Street or a developer for Google, money laundering will not...

    Transaction Monitoring: Going Beyond AML Screening Explore More

    Blog

    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...

    Shufti’s ID Fraud Report: Reviewing 2022 and a Preview of 2023 Explore More

    Blog

    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...

    EU’s Smart ID Wallet – Paving the Way for a Seamless Digital World Explore More

    Anti Money Laundering, Blog, Business Technology, Financial Crime / AML, Fraud Prevention, Identity & KYC

    Initial CCPA Compliance Costs Could Hit $55 Billion: Report

    According to an economic impact assessment prepared for the state attorney general’s office by an...

    Initial CCPA Compliance Costs Could Hit $55 Billion: Report Explore More

    Blog

    Shell Companies and Money Laundering: How to Combat Them?

    Shell companies are notorious for all the right reasons. These entities often called ghost compan...

    Shell Companies and Money Laundering: How to Combat Them? Explore More

    Blog

    Blockchain and cryptocurrency security Guide

    Online bitcoin business might have experienced a slump in recent months but still, it remains to ...

    Blockchain and cryptocurrency security Guide Explore More

    Blog

    A Brief Overview of KYC Requirements for Foreign Exchanges in EMEA

    The forex industry is recognizable for being a dynamic and profitable platform due to its high li...

    A Brief Overview of KYC Requirements for Foreign Exchanges in EMEA Explore More

    Blog

    Healthcare is Under Attack: Strengthening Security with Biometric Verification

    Healthcare scams cost our economy tens of billions of dollars every year and the lowest value of ...

    Healthcare is Under Attack: Strengthening Security with Biometric Verification Explore More

    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...

    Five Things you Need to Know About Shufti’s Digital Identity Verification Explore More

    Blog

    International ID Day – An Overview of the 2021 Identity Landscape

    The International ID Day is not marked on everybody’s calendar but is of significant value for ma...

    International ID Day – An Overview of the 2021 Identity Landscape Explore More

    Blog

    A Go-To Guide to Proof of Address Verification in 2024

    Customer identity verification is significant in today’s digital world – from buying produc...

    A Go-To Guide to Proof of Address Verification in 2024 Explore More

    Blog

    The Emerging Threat of DeepFakes and the Role of Video KYC

    With technological advancement, cybercriminals are revising their strategies to commit fraud. Cri...

    The Emerging Threat of DeepFakes and the Role of Video KYC Explore More

    Blog

    Enhanced Due Diligence Checks | The Art of Mitigating Risks Associated with Third-Parties

    For multinational businesses, reliance on external third-party vendors is crucial. However, failu...

    Enhanced Due Diligence Checks | The Art of Mitigating Risks Associated with Third-Parties Explore More

    Blog

    AML Compliance in High-End Vehicle and Yacht Sales

    High-end vehicles and expensive properties are the universal status symbols that represent the ex...

    AML Compliance in High-End Vehicle and Yacht Sales Explore More

    Blog

    What You Need to Know About Switzerland’s Crypto AML Rules by FINMA

    Switzerland is historically famous for being a global hub for gold. However, the new digital gold...

    What You Need to Know About Switzerland’s Crypto AML Rules by FINMA Explore More

    Artificial Intelligence, Blog, Fraud Prevention

    The Role of Artificial Intelligence in the Future Of Financial Fraud Detection

    Until a few years ago Artificial Intelligence seemed like a thing from sci-fi movies. The whole c...

    The Role of Artificial Intelligence in the Future Of Financial Fraud Detection Explore More

    Biometric Technology, Blog

    Warning: You’re Losing Money by not Using Biometric Identification

    On the surface, Biometric Identification might seem as if it’s only useful for opening your bank ...

    Warning: You’re Losing Money by not Using Biometric Identification Explore More

    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...

    Why have IPOs started Implementing Digital KYC? Explore More

    Blog

    E-learning Platforms and IDV Solutions: A Natural And Much Needed Partnership

    The advancement of modern technologies and telecommunication modes has made online assistance ava...

    E-learning Platforms and IDV Solutions:  A Natural And Much Needed Partnership Explore More

    Blog, Financial Crime / AML

    AML Screening in the light of Compliance Regimes Around the Globe

    AML compliance is inevitable for all types of businesses around the globe. The regulatory complia...

    AML Screening in the light of Compliance Regimes Around the Globe Explore More

    Blog

    Video-KYC – The ‘New Normal’ for Digital Customer Verification

    The KYC requirements all over the world are getting stringent. ID document verification is a norm...

    Video-KYC – The ‘New Normal’ for Digital Customer Verification Explore More

    Blog

    CFT & AML Compliance To Hold Back Financial Crimes

    In this digital era, many factors are greasing the wheel of money laundering. Due to online trans...

    CFT & AML Compliance To Hold Back Financial Crimes Explore More

    Blog, Identity & KYC

    Know Your Patient: Anti-Fraud Pill for Healthcare Industry

    Know Your Patient: The healthcare industry is more prone to data breaches than any other industry...

    Know Your Patient: Anti-Fraud Pill for Healthcare Industry Explore More

    Blog

    AML Compliance – Eliminating Financial Crimes in FinTech Firms

    The FinTech industry is growing rapidly across various sectors with investments and large-scale a...

    AML Compliance – Eliminating Financial Crimes in FinTech Firms Explore More

    Blog

    Pension Fund Fraud and the Role of Employee Identity Verification

    Old age is the scariest phase of life for everyone and organisations find it a big challenge to c...

    Pension Fund Fraud and the Role of Employee Identity Verification Explore More

    Blog

    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...

    AML Compliance in the UK’s Financial Sector – What Shufti Offers Explore More

    Blog

    Curbing Real Estate Crimes and Hunting Down Russian Investors with Shufti’s AML Screening Solution

    The real estate industry has become attractive to money launderers in the same way it is to any l...

    Curbing Real Estate Crimes and Hunting Down Russian Investors with Shufti’s AML Screening Solution Explore More

    Blog

    New KYC Regime for the UK, US, and Australia – What’s in it for Financial Institutions?

    Financial institutions are known for getting their reputation maligned due to crimes like identit...

    New KYC Regime for the UK, US, and Australia – What’s in it for Financial Institutions? Explore More

    Blog

    5-Steps to Improve Customer Due Diligence Process

    The digital age has witnessed a new wave of financial fraud. It is estimated that $4.7 trillion o...

    5-Steps to Improve Customer Due Diligence Process Explore More

    Blog

    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...

    Rethinking Trust in Crypto: How Digital Identity Verification Will Power the Next Phase of Growth Explore More

    Blog

    Know Your Driver – Urgency of Identity Verification for Mobility service Providers

    Scams have been at the forefront whenever a new tool is made available. The same goes for ride-sh...

    Know Your Driver – Urgency of Identity Verification for Mobility service Providers Explore More

    Blog

    Facial Recognition in UAE to Protect Private and Government Sector

    Continuous developments in the world of technology have led to many innovative solutions like fac...

    Facial Recognition in UAE to Protect Private and Government Sector Explore More

    Blog

    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...

    Know Your Patient (KYP) |  Significance in Fighting Patient Identity Theft & Scams Explore More

    Blog

    Employee Verification – First Line of Defence Against Corporate Fraud

    One day you wake up to the fact that the employee you’ve been trusting for years has been embezzl...

    Employee Verification – First Line of Defence Against Corporate Fraud Explore More

    Blog

    The Definitive Guide to Anti-Money Laundering & Countering of Terrorist Financing

    In this modern globalized era, money launderers, terrorist financiers and other criminal elements...

    The Definitive Guide to Anti-Money Laundering & Countering of Terrorist Financing Explore More

    Blog

    The Priorities – FinCEN Issues First Governmentwide AML/CFT Guidelines

    What is the Goal of FinCEN’s AML/CFT Priorities?CorruptionCybercrimeFraudProliferation FinancingT...

    The Priorities – FinCEN Issues First Governmentwide AML/CFT Guidelines Explore More

    Blog

    Identity Verification – Building Trust and Combating Scams in Online Dating

    Since the beginning of civilization, humans have always preferred to live in communities. This co...

    Identity Verification – Building Trust and Combating Scams in Online Dating Explore More

    Blog

    Metaverse and Meta Criminals – Is it Possible to Secure Identities with IDV?

    Ever since Mark Zuckerberg changed Facebook’s name to Meta, the acronym “metaverse” has taken ove...

    Metaverse and Meta Criminals – Is it Possible to Secure Identities with IDV? Explore More

    Blog

    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...

    Japan’s Act on Personal Information Protection – What Businesses Must Do Explore More

    Artificial Intelligence, Blog

    Why Artificial Intelligence Isn’t Taking Over—It’s Helping Us Thrive

    Artificial Intelligence (AI) has transformed from a futuristic concept into a critical part of ou...

    Why Artificial Intelligence Isn’t Taking Over—It’s Helping Us Thrive Explore More

    Blog

    Digital Age Verification replacing Age Gates for better compliance

    Age verification is one of the trending snd sensitive topics these days, especially in the busine...

    Digital Age Verification replacing Age Gates for better compliance Explore More

    Blog

    International ID Day – An Overview of the 2021 Identity Landscape

    The International ID Day is not marked on everybody’s calendar but is of significant value for ma...

    International ID Day – An Overview of the 2021 Identity Landscape Explore More

    Blog, Online Marketplace

    Know Your Customer Verification for Charity Organisations

    They say no good deed goes unpunished, if we were to take a look at it literally the frauds that ...

    Know Your Customer Verification for Charity Organisations Explore More

    Blog

    Securing Digital Landscape with Electronic Identity Verification Services in 2023

    With a surge in identity document forgery, the likelihood of onboarding a criminal has grown subs...

    Securing Digital Landscape with Electronic Identity Verification Services in 2023 Explore More

    Blog

    EU’s AMLD5: What does it mean and how will it impact the AML regulation regimes?

    From the Panama papers, Paradise leaks and Danske Bank case to the most recent revelations about ...

    EU’s AMLD5: What does it mean and how will it impact the AML regulation regimes? Explore More

    Blog

    E-Signature | Digitise and Verify Agreements in Compliance

    The use of electronic signature, or e-signature, has transformed business dealings. The days of s...

    E-Signature | Digitise and Verify Agreements in Compliance Explore More

    Blog

    AML/CFT Regulations of Hong Kong: Paper Over Cracks?

    On September 15, 2021, Hong Kong’s Securities and Futures Commission issued consultation conclusi...

    AML/CFT Regulations of Hong Kong: Paper Over Cracks? Explore More

    Blog

    Open Banking Trends & the Vitality of Identity Verification

    With rapid digitisation, open banking is becoming the new normal in the banking sector. Open bank...

    Open Banking Trends & the Vitality of Identity Verification Explore More

    Blog

    7 Best KYC and Fraud Prevention Tips for Online Businesses

    With the explosion of internet and web applications, the online interaction between consumers and...

    7 Best KYC and Fraud Prevention Tips for Online Businesses Explore More

    Blog

    5 Key Cybersecurity Threats for 2020

    Cybersecurity threats have become remarkably common and they continue to gain traction with the p...

    5 Key Cybersecurity Threats for 2020 Explore More

    Take the next steps to better security.

    Contact us

    Get in touch with our experts. We'll help you find the perfect solution for your compliance and security needs.

    Contact us

    Request demo

    Get free access to our platform and try our products today.

    Get started