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

    216.73.216.50

    Initial Exchange Offerings (IEOs) – A Detailed Insight

    Initial Exchange Offerings (IEOs) - A Detailed Insight

    The advent of the Crypto industry brought decentralized and innovative fundraising ways. One of them through Blockchain projects is Initial Coin Offerings (ICOs). Security tokens are like digital financial securities such as bonds and stocks. Since the first ICO presented by Mastercoin in the year 2013, there are hundreds of ICOs today. The industry is undergoing a notable transition with similar other models such as Security Token Offering (STO) and Initial Exchange Offering (IEO). 

    STOs are security tokens that are issued and sold to the investors just the way using crowdfunding methods such as ICOs, digital tokens are sold. Security tokens seem to reinvigorate the landscape of the crypto industry. 

    Just like ICOs, with IEOs, investors can get new tokens (or cryptocurrencies) while raising funds for cryptocurrency projects. IEO is currently the most dominant trend in the crypto industry. In crypto exchanges, funds are raised on behalf of startups while taking in place due diligence and other commitments. On the exchange platforms, cryptocurrency projects conduct a sale of tokens where token issuers are supposed to pay a listing fee to exchange. Crypto projects then sell their token with listing on exchange platforms. 

    The major drawback here for IEO is that it is not available to open public. Only the users of that particular exchange can participate no one else can. The others who want to participate would have to open an account with the exchange platform that is hosting IEO.

    How does IEO work?

    Initial Exchange Offering (IEO) process is basically divided into four stages; Plan preparation, Pre-IEO stage, IEO, and Post-IEO stage. All these processes separately discuss how IEOs are launched and how one can do them without any hassle. 

    Plan preparation

    This is the first stage in which tokens need to listed for IEO project. The startup needs to come up with the idea, check its feasibility, conduct a survey regarding its market need and position. Then look at the budget and investment plan to launch an IEO. For all this process, proper planning and experience in the relevant project niche are needed. Moreover, consultation with field and market experts can help better in analyzing the scope. The project should be remarkable to get listed on crypto exchange platforms. 

    Once you come with the plan, look for partners that have experience in the field. A strong and talented team is really important as it helps in gaining more investors in the project. In order to launch the IEO project on a crypto exchange, there should be some work done beforehand to impress the exchange and get the project listed.

    Pre-IEO stage

    In this stage, choose some crypto exchange platform to pitch an IEO project. For this, there are some things to consider, make sure that you are well-aware of the committee and exchange’s norms while onboarding an IEO project. Keep everything ready and running while presenting, this increases the chances of getting selected by the crypto exchange. 

    After selecting an exchange platform, write up a proposal document to present it to investors. That document should contain each and everything, from the purpose to market survey, stats and figures to development strategy, a roadmap to investment overview, budgeting to future scope. This helps impress the investors when a complete overview of an idea will be given, the chances of a project to get listed on the exchange platform increase. When ready with documentation, you are well to go with the development of tokens. 

    IEO

    In this stage of token developments, make sure that your budget meet teh requirements well. Funding hardcopy should be formed to present the investors that idea is achievable with this much development cost and market adaptability. When token get minted, the next step is to list those token onto the selected crypto exchange platform. If that exchange selects your project idea and you pass the KYC and AML stage, your tokens will list onto exchange platforms. 

    Post-IEO stage

    This stage is important as your tokens are listed by exchange. The next step is to market the product. Outreach your audience, promote the product by running several social media marketing strategies. 

    Difference between ICO and IEO

    Initial Exchange Offerings and Initial Coin Offerings are crowdfunding techniques. In ICOs token issuers are responsible whereas for IEOs startups look for exchanges to raise funds. In IEOs, a third-party in the form of a crypto exchange is involved whereas, in ICOs, crypto projects approach investors directly.  

    IEO mechanism establishes trust between investors and token issuers more than it does in ICO. This is done by filtering out the bad actors in the early stages during the process of Customer Due Diligence. Identity verification beforehand helps exchanges build a healthy relationship between two entities. It helps eliminate bad actors, money launderers, terrorist financiers and other criminal entities from misusing the IEOs. 

    Difference between ICO and IEO

    In ICO, it is the duty of token issuer to manage smart contracts whereas, in IEO, exchanges themselves do this task. This gives a security advantage in the crowd sale. At the exchange side, all mandatory KYC (Know Your Customer) and AML (Anti-money Laundering) checks are implemented against each identity. These checks are conducted to ensure that no fraudulent identity is facilitated through the exchange. Investors and token issuers are identified and a healthy relationship is built being exchanges as an intermediary.

    Collaboration with crypto exchange platforms helps token issuers reduce marketing efforts. As compared to ICOs, startups get better savings with IEOs. Moreover, startups can continue better contributions to their projects with stable customer base exchanges provide. 

    With respect to efficiency and security, IEOs take edge over ICOs. One needs to register on the exchange platforms going through the stages of identity verification that include KYC and AML checks in which along with an entity’s identity verification, it is screened against various global watchlists and criminal databases. Being this primary advantage IEO exchanges are considered secure investment platforms. 

    Once the entity is verified, the next step is to just fund the wallet with IEO supported cryptocurrencies However, the cost of IEOs could be a bit higher than ICOs. Nevertheless, IEO’s merits outweigh that cost. 

    Why IEO over ICO?

    There are many ICOs available today. Still why the team needs a different way of fundraising? The thing is IEO provides benefits over ICO that could be depicted by the percentage of population transitioning towards it. Running an exchange has always been a profitable business from trading fees alone. Following are some of the advantages of IEOs for exchange platforms:

    • Both IEO and listing fee can significantly vary between exchanges
    • Intermediary platforms between exchanges and token issuer reduce frauds and scams
    • The joint market is established with IEO team

    Intermediary platforms serve as an additional layer of security that helps identify and authenticate investors before making investments. Before token sale, exchanges thoroughly authenticate the credibility of token issuers. 

    Related Posts

    Blog

    40 recommendations of FATF – Shaping the future of your business

    Financial Action Task Force or simply FATF is an active global authority that never fails in surp...

    40 recommendations of FATF – Shaping the future of your business Explore More

    Blog

    Top 5 Trends to Revamp the Online Gambling Industry in 2022

    In recent times, the online gambling sector has demonstrated continuous growth along with technol...

    Top 5 Trends to Revamp the Online Gambling Industry in 2022 Explore More

    Blog

    The Trade-off Between Fraud Losses and Compliance Costs in the Banking Sector

    The modern era’s demand for digital-first services in sectors ranging from e-commerce, online dat...

    The Trade-off Between Fraud Losses and Compliance Costs in the Banking Sector Explore More

    Blog

    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...

    Role of Enhanced Due Diligence in Combating Money Laundering Explore More

    Blog

    How Global AML Regulations Safeguard Financial Processes from Money Laundering

    Growing a business in any part of the world requires effective AML compliance measures as a neces...

    How Global AML Regulations Safeguard Financial Processes from Money Laundering Explore More

    Blog

    Stronger Global Identity Coverage… Where it Counts

    In today’s globalized economy, businesses are striving to expand their footprint across borders. ...

    Stronger Global Identity Coverage… Where it Counts Explore More

    Blog

    What is an OCR Screening and How Does it Work?

    In our digital environment, where automated technology has already taken over corporate processes...

    What is an OCR Screening and How Does it Work? Explore More

    Blog

    Biometric Authentication – A Solution Against Fraud Detection

    Biometrics technology is the way forward for identity verification services as they allow for qui...

    Biometric Authentication – A Solution Against Fraud Detection Explore More

    Blog

    7 Fascinating Facts about Face Verification Technology

    Technology is a fundamental part of our day-to-day lives, from checking the weather and connectin...

    7 Fascinating Facts about Face Verification Technology Explore More

    Blog

    Know Your Player – Preventing Identity Fraud in Sports Events

    The ongoing trend of globalizing sports activities since the last few decades has resulted in a l...

    Know Your Player – Preventing Identity Fraud in Sports Events Explore More

    Blog

    The New Face of Authentication (*hint: you’ve seen it before!) 

    Companies face the daunting tasks of securing their data against the evolving threat of fraud whi...

    The New Face of Authentication (*hint: you’ve seen it before!)  Explore More

    Blog

    All You Need to Know About Facial Recognition

    Rapid digitisation over the past few years has led to the adoption of facial recognition for many...

    All You Need to Know About Facial Recognition Explore More

    Blog

    The Trade-off Between Fraud Losses and Compliance Costs in the Banking Sector

    The modern era’s demand for digital-first services in sectors ranging from e-commerce, online dat...

    The Trade-off Between Fraud Losses and Compliance Costs in the Banking Sector Explore More

    Blog

    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 ...

    Elevating Payment Security: The Crucial Role of Biometric Authentication Explore More

    Blog

    Keeping AI Bias Out of the IDV Game with Shufti

    Consider this: 85% of financial institutions today use some form of AI in their products. The tec...

    Keeping AI Bias Out of the IDV Game with Shufti Explore More

    Blog

    Assessing the Importance of Digital Identity Verification in On-Demand Services

    Dealing with the after-effects of the coronavirus pandemic, digital business platforms and e-comm...

    Assessing the Importance of Digital Identity Verification in On-Demand Services Explore More

    Blog

    Worldwide Language Coverage from Shufti helps you go Global

    Language serves the purpose of communication among people of a certain locality, nation or in cas...

    Worldwide Language Coverage from Shufti helps you go Global Explore More

    Blog, Business Technology

    What Due Diligence Means for Your Business

    Due diligence is a process that helps banks and individuals to get to know in detail who they are...

    What Due Diligence Means for Your Business Explore More

    Blog

    Transaction Monitoring – Establishing A Defense Mechanism Against Financial Crime

    With the rapid increase in the global volume of monetary transactions, money laundering methods a...

    Transaction Monitoring – Establishing A  Defense  Mechanism Against Financial Crime Explore More

    Blog

    The Vital Role of AML Compliance for P2P Lending

    Archiac banking traditions saw loan applicants held in suspense, waiting for lengthy periods of t...

    The Vital Role of AML Compliance for P2P Lending Explore More

    Blog

    Electronic Identity Verification | Forecasts and Predictions

    Identities change as the world goes more digital. As more activities, like banking, socialising, ...

    Electronic Identity Verification | Forecasts and Predictions Explore More

    Blog

    Address Verification: Types, Benefits, and Best Practices

    Improving customer service and combating fraud frequently requires swiftly gathering and confirmi...

    Address Verification: Types, Benefits, and Best Practices Explore More

    Blog

    KYC Compliance – Identity Verification for Brokerage Companies & Trading Platforms

    Online trading platforms provide businesses with the convenience to keep an eye on financial mark...

    KYC Compliance – Identity Verification for Brokerage Companies & Trading Platforms Explore More

    Blog, Identity & KYC

    Identity Verification – Key to Eliminate BEC Fraud

    Fraud prevention and cybersecurity are the major concerns of the companies in the digital era. No...

    Identity Verification – Key to Eliminate BEC Fraud Explore More

    Blog

    Preventing Criminal Abuse of the Australian Crypto Market with Shufti’s AML Screening Services

    Cryptocurrencies have been around for a decade and investors have found a feasible option for inv...

    Preventing Criminal Abuse of the Australian Crypto Market with Shufti’s AML Screening Services Explore More

    Blog

    Identity verification in freelancing- no more smoke and mirrors

    Freelancing platforms are rapidly growing. In 2017, around 57 million Americans were freelancing ...

    Identity verification in freelancing- no more smoke and mirrors Explore More

    Blog

    E-commerce Frauds – Common types and Prevention tips

    What are some common e-commerce frauds and how can you prevent them? Is the buyer on your site an...

    E-commerce Frauds – Common types and Prevention tips Explore More

    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...

    AUSTRAC’s ML/TF Risk Assessment Report on Foreign Subsidiary Banks [Part 4] Explore More

    Blog

    GDPR Compliance vs BlockChain Debate – Things you must know

    GDPR Compliance is here to stay and it is going to be binding on every business and online enterp...

    GDPR Compliance vs BlockChain Debate – Things you must know Explore More

    Blog

    4 Tips to avoid digital payment frauds

    Due to the contingency caused by the rapid expansion of the Covid-19, online transactions have in...

    4 Tips to avoid digital payment frauds Explore More

    Blog

    KJM Age Restrictions Breaking New Grounds for Gaming Industry

    Minor protection has become a challenge for everyone these days. Parents are worried about the ty...

    KJM Age Restrictions Breaking New Grounds for Gaming Industry Explore More

    Blog

    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...

    OCR Vs. ICR: The Key Differences that Businesses Need to Know Explore More

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

    AML Compliance in EU Member States and Risks of Businesses

    Making regulations is just the first step, the true game starts when it comes to implementation, ...

    AML Compliance in EU Member States and Risks of Businesses Explore More

    Blog

    NFTs and Surging Crimes – How Shufti’s AML/KYC Solution Can Secure The Digital Ecosystem

    Non-Fungible Tokens (NFTs) are by far one of the most popular topics right now. Artist Mike Winke...

    NFTs and Surging Crimes – How Shufti’s AML/KYC Solution Can Secure The Digital Ecosystem Explore More

    Blog

    Understanding Facial Identification: Face Verification vs. Face Recognition

    Many terms in the biometrics field are used interchangeably, particularly regarding facial verifi...

    Understanding Facial Identification: Face Verification vs. Face Recognition Explore More

    Blog

    How to Combat Document Forgery in 2025 and Beyond

    Why This Update Matters Digital document forgery is no longer a fringe threat it strikes every fi...

    How to Combat Document Forgery in 2025 and Beyond Explore More

    Blog, Identity & KYC

    Geolocation Technology and its benefits for KYC Verification

    KYC verification has come a long way from simply authenticating the official identity documents o...

    Geolocation Technology and its benefits for KYC Verification Explore More

    Blog

    Shufti’s Bug Bounty Programme: Strengthening Security Via Ethical Hacking

    With the avalanche of security vulnerabilities in the verification industry, Shufti is launch...

    Shufti’s Bug Bounty Programme: Strengthening Security Via Ethical Hacking Explore More

    Blog

    COVID-19 & Telehealth Fraud: Why ID Verification Is Necessary

    From being a medical coverage option to becoming a medical necessity, the telehealth industry has...

    COVID-19 & Telehealth Fraud: Why ID Verification Is Necessary Explore More

    Blog

    Combating 8 Prevalent Biometric Fraud Through a Single AI Solution

    Considering how criminals are attempting new strategies to “steal a face”, companies are no longe...

    Combating 8 Prevalent Biometric Fraud Through a Single AI Solution Explore More

    Blog

    How Businesses Can Avoid Identity Verification Fraud in 2019?

    With a bulk of customers using online services, businesses wish to digitise their operations and ...

    How Businesses Can Avoid Identity Verification Fraud in 2019? Explore More

    Blog

    AML Screening – Identifying Financial Criminals in the Art & Antiquities Sector

    There is no doubt in the fact that art and antiquities are one of the sectors responsible for bil...

    AML Screening – Identifying Financial Criminals in the Art & Antiquities Sector Explore More

    Blog

    Enhanced Digital Security with Facial Recognition and Liveness detection

    The increasing number of cyber-attacks and online fraud calls out for strong security measures. U...

    Enhanced Digital Security with Facial Recognition and Liveness detection Explore More

    Blog

    Facial Recognition to Reshape the Retail Industry in 2020

    The explosion of facial recognition technology in our smartphones – for instance in iPhone ...

    Facial Recognition to Reshape the Retail Industry in 2020 Explore More

    Blog

    How Can Businesses Detect Arbitrage Sports Betting?

    Various gamblers have investigated and exploited potential weaknesses in betting markets for mill...

    How Can Businesses Detect Arbitrage Sports Betting? Explore More

    Blog

    Initial Exchange Offerings (IEOs) – A Detailed Insight

    The advent of the Crypto industry brought decentralized and innovative fundraising ways. One of t...

    Initial Exchange Offerings (IEOs) – A Detailed Insight Explore More

    Blog

    The Top 10 Advantages of OCR for Business Owners

    In our current data-driven and digital world, many organisations struggle with vast quantities of...

    The Top 10 Advantages of OCR for Business Owners Explore More

    Blog

    Top 10 Identity Verification Trends to Look Out for in 2022

    Did you know identity fraud is growing at a faster than ever rate? Businesses across the globe ar...

    Top 10 Identity Verification Trends to Look Out for in 2022 Explore More

    Blog, Online Marketplace

    How Identity Verification Solutions Can Make Summer Travel a Breeze and Generate Revenue?

    The travel industry is a unique business category servicing clients from various destinations and...

    How Identity Verification Solutions Can Make Summer Travel a Breeze and Generate Revenue? 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

    Blog, Reg Tech

    How Identity Verification Services make Regulatory Compliance Easier?

    Financial institutions and banks have ended up in a loop of dumping billions of dollars because o...

    How Identity Verification Services make Regulatory Compliance Easier? Explore More

    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...

    RegTech – FATF Guidance for Digital Identity Verification Explore More

    Blog

    Identity verification solutions to fight against faces of fraud

    In this digital world, billions of smart devices are circulating, connecting and communicating wi...

    Identity verification solutions to fight against faces of fraud Explore More

    Blog

    The Future of Identity Verification: Shufti CEO Shahid Hanif on Adaptability, Innovation, and Technology Leadership

    As fraud threats become increasingly sophisticated and regulatory landscapes evolve, businesses m...

    The Future of Identity Verification: Shufti CEO Shahid Hanif on Adaptability, Innovation, and Technology Leadership Explore More

    Blog

    How E-Commerce sites can prevent scams over Black Friday and Cyber Monday

    For online businesses, customer authentication for internet payments is very crucial. An ever-inc...

    How E-Commerce sites can prevent scams over Black Friday and Cyber Monday Explore More

    Blog

    The ‘What’ and ‘How’ of Address Verification Service

    The rising number of chargebacks and other fraudulent activities has led organisations to develop...

    The ‘What’ and ‘How’ of Address Verification Service Explore More

    Blog

    5 Ways how IDV Provides an Active Defense Against Fincrime

    Identity theft, account takeovers, and data breaches… The world has seen enough cybercrime ...

    5 Ways how IDV Provides an Active Defense Against Fincrime Explore More

    Blog

    The Role of KYC Protocols in Safeguarding the Future of Cryptocurrency

    Despite volatility in the crypto sector, millions of individuals access their services worldwide....

    The Role of KYC Protocols in Safeguarding the Future of Cryptocurrency Explore More

    Blog

    The Mesh of Human Behavior and Technology: CX Expert Saroni Kundu on Building Customer-Centric Businesses

    No matter the industry, customer experience (CX) is key to building trust and loyalty. If you’re ...

    The Mesh of Human Behavior and Technology: CX Expert Saroni Kundu on Building Customer-Centric Businesses Explore More

    Blog

    Identity Verification Services — Fueling the Demand for Safe Gaming Experience

    Modern gaming is the most recent evolution of online games that has enchanted gamers across the g...

    Identity Verification Services — Fueling the Demand for Safe Gaming Experience Explore More

    Blog

    A Guide to Anti-Money Laundering (AML) Regulations in the UAE

    As the Middle East’s financial hub, the UAE offers several enticing free trade zones that a...

    A Guide to Anti-Money Laundering (AML) Regulations in the UAE Explore More

    Blog

    Multi-Tier Security – Another Line of Defense Against Bank Account Scammers

    The banking sector has been witnessing a significant rise in criminal activities is a major conce...

    Multi-Tier Security – Another Line of Defense Against Bank Account Scammers Explore More

    Blog

    7 Trends in Identity Verification Solutions to look for in 2020

    Internet is an anonymous space where people can hide their identities and come up with bizarre ps...

    7 Trends in Identity Verification Solutions to look for in 2020 Explore More

    Blog

    Record-Breaking Fines on Banks for KYC/AML Non-Compliance

    Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance have been structured to make ...

    Record-Breaking Fines on Banks for KYC/AML Non-Compliance Explore More

    Blog

    Japanese FSA to Beef Up AML Systems from Fiscal 2021

    Growth in South Asia has far exceeded that in any other country over the past few years and digit...

    Japanese FSA to Beef Up AML Systems from Fiscal 2021 Explore More

    Blog

    AML Compliance – How to Steer Clear of Cryptocurrency Crimes

    Bitcoin, Ethereum, Dogecoin, and Tether along with thousands of other cryptocurrencies are rising...

    AML Compliance – How to Steer Clear of Cryptocurrency Crimes Explore More

    Blog

    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...

    A Guide to Understanding KYC in Banking 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

    Understanding eKYC | The Benefits, Processes & 2024 Forecast

    Governments worldwide require firms, such as financial institutions, to know who their customers ...

    Understanding eKYC | The Benefits, Processes & 2024 Forecast Explore More

    Blog, Online Marketplace

    Document Verification Services for a Secure Freelance Platform

    Picture this you have recently started a freelance website you have marketed it properly and foll...

    Document Verification Services for a Secure Freelance Platform Explore More

    Blog, Fraud Prevention

    4 Fraud Prevention Tips For Your E-commerce Business this Holiday Season

    With the holiday shopping season in full swing, e-commerce fraud risk is a glaring reality that n...

    4 Fraud Prevention Tips For Your E-commerce Business this Holiday Season Explore More

    Blog

    Identity Verification – Safeguarding Pharmaceutical and Controlled Substance Sales

    With emerging technologies, the pharmaceutical industry has transformed significantly, and rapid ...

    Identity Verification – Safeguarding Pharmaceutical and Controlled Substance Sales 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