Biometric Technology, Blog
4 Reasons why Facial Recognition is Better at Biometric Verification than Fingerprint Scans
Biometric verification is smartphones was introduced nearly five years ago when iPhone launched i...
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Enhanced Due Diligence: Identifying High-Risk Customers in the Banking Sector
The digitisation of our world and economies have introduced greater ease and efficiency to our pr...
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KYC | Complete Guide to KYC Compliance & KYC Regulations 2021
Introduction to KYC or Know your customer
Know your customer or KYC history dates back to 2001 in...
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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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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...
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NFC Verification – Making Digital Payments Mainstream from Alternative
With time, payment methods have evolved from coins to paper-based money, then plastic, and now sm...
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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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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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ID Verification for Ultimate Subscription Fraud Prevention
Cellular phones were first introduced in the consumer market in 1973 when Motorolla first introdu...
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Online Identity Verification: 5 Trends to Expect in 2021
The boom in digitisation forced businesses to opt for digital means of operations. Online busines...
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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...
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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...
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The Role of Digital Identity in Business-Customer Relationship
Dealing with any business online have you ever wondered where this relationship would go? We all ...
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Fintech Compliance – Boogeyman for Trillion Dollar Industry?
Fintech industry is flexing its muscle by bringing onboard more and more customers and innovating...
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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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Blog, Online Marketplace
New Rules by the UK Gambling Commission and Their Impact
The UK Gambling Commission announced new gambling rules earlier this year to make gambling safer ...
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Facial Recognition | The Principles of Responsible Use and the Legal Landscape
One of the most popular uses of AI nowadays is facial recognition. In all likelihood, it’s ...
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Customer Risk Assessment: Strengthening Security in the Digital Age
Business partners, vendors, and third parties play essential roles in daily operations, contribut...
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Jobs in the frame for money laundering
How banks can detect money mules?
Remote jobs are trending but not every job is legitimate. Some ...
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KYC in banking: How American banks can fight identity thieves?
In the present globalized, fast-evolving sphere, revolutionizing KYC (Know Your Customer) is cruc...
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How Can Businesses Detect Arbitrage Sports Betting?
Various gamblers have investigated and exploited potential weaknesses in betting markets for mill...
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How to Design an Effective Client Lifecycle Management (CLM) System with ID Verification
The customer journey with a business is very comprehensive. It does not end once the customer is ...
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Securing Online Marketplace Through Identity Verification System
Since the Covid-19 outburst, technological advancements and emerging innovations have digitized t...
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Identity Verification and Prevailing Crimes – How Shufti’s Proof of Verification Services Can Help
With growing digitization, emerging technologies, and increased use of online transactions, a hug...
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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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Shufti donates 10 million free ID verifications to help fight fraud amid COVID-19
Coronavirus took the world into clutches forcing people to adopt isolation and businesses are com...
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Blog, Financial Crime / AML
3 Stages of money laundering – How AML screening guards your business
The United Nations Office on Drugs and Crime found that 2 to 5% of global GDP is laundered every ...
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The need for identity verification solutions spiking in demand
At present, we are living in a digital world. Everyone is on the internet which is an anonymous s...
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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, Business Technology, Identity & KYC
The Reason Why Companies Painstakingly Screen Customers
Remote identity Proofing: generally believe that more customers bring more revenue. But that is ...
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Ensure Digital Security with e-KYC Solutions
In today’s world where the distances have been reduced considerably with the advancement of techn...
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Addressing the Challenge of Money Laundering Risks for Payment Service Providers (PSPs)
During the last few decades, the financial industry has altogether revolutionized, and digital tr...
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How Can You Make Your Onboarding Process Cost-Effective?
The customer onboarding process can cost your business a fortune if it is complex. In the modern ...
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Blog, Identity & KYC
CRA Looking to Launch Digitally Secure Ways with Identity Verification Services
Canada Revenue Agency or CRA in collaboration with an identity verification service called Secure...
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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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KYC/AML Compliance for Startups in the Financial Sector – How Shufti Can Help
As technology continues to transform the financial industry, the need for identity verification h...
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Crypto 2021: The Rapidly Emerging Context of Virtual Currencies
Cryptocurrency is in the limelight since the advent of Bitcoin in 2009. Investors like Tesla Inc....
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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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The State of Money Laundering in The United States – How Shufti Can Help
The United States of America is among the first countries that took effective measures to fight f...
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A Year In Review of the FinTech Industry [2021 Update]
The FinTech industry is soaring with a record of $91.5 billion in global funding so far this year...
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KYC Verification – The Significance of Identity Verification in the Telecom Industry
Increasing smartphone usage throughout the world has accounted for large amounts of data being sh...
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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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e-IDV: Safeguarding Businesses and Customers in the Digital Age
Identity theft cases are on the rise in this age of digitisation. In 2022, India topped the list ...
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AML Compliance – Sharpening Focus on FinCrime in the Payments Industry
Conventional payment services are embracing technological transformation, which is significantly ...
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An Insight into the US Regulations for the Art Art & Antiquities Sector
Billions of dollars worth of art and antiquities are traded throughout the world without checks t...
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Identity Verification | A Complete Guide to Compliance and Risks
The United Nations says $2 trillion is laundered globally every year. Of that, less than 10% is d...
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Money Laundering in the Metaverse – NFTs, DeFi, and the Role of Shufti’s AML Solutions
For more than a decade, the metaverse concept has been picking up pace, and the world is preparin...
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Top 10 AML Trends to Watch for in 2022
In 2021, the increasing scope of regulatory sanctions has affected businesses globally. The use o...
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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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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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Blog
AML Compliance – Eliminating Financial Crimes in FinTech Firms
The FinTech industry is growing rapidly across various sectors with investments and large-scale a...
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Blog, Business Technology
Fraud Prevention in Fintech Industry
The FinTech industry has really made its mark in the last couple of years. FinTechs have been pro...
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Intelligent Character Recognition (ICR) Software – One step ahead of OCR
What is ICR?
Intelligent Character Recognition (ICR) is an extended technology of Optical...
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Divergent AML/CFT Rules and Cross-border Payment Challenges – What FATF Has to Say?
While addressing AML/CFT requirements for cross-border payments, the global financial watchdog, F...
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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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Romance Scams: Protect Your Heart and Wallet with Identity Verification
People searching for love online sometimes meet the unfortunate fate of a broken heart and someti...
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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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5 Technology Trends To Disrupt Banking in 2020
Living in the digital era, technology is driving major changes in almost every industry. Whether ...
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Blog, Online Marketplace
12 Ways Identity Verification Services Helping Online Businesses
The online marketplace has a culminating presence in the business world. Worldwide e-commerce sal...
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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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10 Frequently Asked Questions about Real-time Document Verification
As we’re propelled deeper into digital transformation, techniques employed by scammers are ...
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Blog
Shufti Turns Three – A journey of building trust globally
October 31, 2020, marks the third anniversary of Shufti and three successful years of buildin...
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Blog, Online Marketplace
New Rules by the UK Gambling Commission and Their Impact
The UK Gambling Commission announced new gambling rules earlier this year to make gambling safer ...
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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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Blog
The UK, US & Singapore – A Spotlight on the Crypto Regulations
Non-compliance with anti-money laundering regulations has been an issue for the finance and crypt...
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The Top Use Cases of Optical Character Recognition (OCR) Technology
Optical Character Recognition (OCR) technology has transformed how businesses collect, process, a...
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The Changing Landscape of KYC/AML Regulations in 2021
Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations have been evolving over time...
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Cannabis Industry – Risks, Predictions, Fraud & KYC/AML Obligations
The ever-growing industries across the world are opening gates for numerous opportunities to gree...
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Post-pandemic eCommerce Landscape Calling for Robust ID Verification Solution
During the coronavirus pandemic, the e-commerce industry has witnessed a significant increase in ...
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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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Blog
Risks of Vaccine Verification Apps & What IDV Industry can Offer
COVID-19 has brought enough changes to make the world smarter. Businesses and customers migrating...
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Blog, Online Marketplace
Industrial significance of KYC / AML Compliance in 2019
As the type and amount of fraudulent activities have increased over the years, governments and re...
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