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

    216.73.216.113

    Online Identity Verification – The Hallmark of Surviving the Digital Upheaval

    online

    Embracing the digital world seems like entering uncharted waters where the challenges are novel, and the aftermath is unpredictable. Although, part of this may not be true, there do exist certain challenges that enterprises need to address to make customer experience purposeful and the digital space a safer place. The dawn of intelligent technologies like artificial intelligence and data science has opened new roads of innovation in customer relationship management despite the constant risk of cybercrime.

    This blog discusses the importance of user identity in the digital space, the challenges associated with it, and what solutions companies have to offer in this regard. 

    Digital Identity – Why is it Such a Big Deal Today?

    When we talk about the digital space, there are a lot of things to consider apart from quick digital transactions to opening online accounts safely.  What is of essence is that any user browsing the internet, or using online services to buy products has a unique identification often called their digital identity. According to the UK’s Trust Framework, this is a representation of a person in the digital space allowing them to establish an identity to interact online. Digital identity is composed of trusted pieces of information called ‘attributes’ that are chunks of personal data such as the name, address, date of birth, etc.

    While digital identity can work wonders, it has its fair share of challenges that need to be addressed. Businesses invest a lot of time and resources to come up with efficient and reliable solutions that guarantee their customers are safe from identity theft and various other cybercrime. 

    A Day in the Life of an Online User

    From responding to online messages and using free Wi-Fi at the airport, to downloading apps and stumbling across phishing emails and data breaches, the digital space is full of challenges. Users in the digital space may acknowledge that they can blissfully browse their social media feed and give out their personally identifiable information (PII) to buy products from an e-store, but it is important to know that all of this does not come at the cost of compromising their identity information.

    Who knows, your stolen online records may end up on the dark web without you even knowing, or the security code which you just shared on email ends up in a credit card breach? Consumers should take care while handing out their identity information particularly in the digital space that is full of unwanted actors. 

    The Importance of Positive Digital Footprints

    The trail of information that a user leaves behind while sharing and interacting on different platforms in the online landscape is called digital footprints. It may include information that is actively shared online such as signing up to open an account, making a purchase, or putting in your credit card details for authentication. 

    identity

    When it comes to businesses, unidentified digital footprints could result in criminals using false identities to open fake accounts, and use business services for money laundering, identity theft and related financial crime. Performing thorough screening of customers in light of robust due diligence regulations can help address this problem and allow effortless identity verification. 

    Challenges in the Digital-only World

    Identifying and Verifying Customers

    Whether your business operates physically or in the digital space, it needs to have a mechanism to make sure that any customer they onboard is legitimate. In corporate and banking terms, this is called Know Your Customer (KYC) through which organizations mitigate financial crimes such as money laundering and tax evasion. 

    With technology emerging, digital KYC is becoming popular in the market with intelligent facial recognition and AI-based document checks. Through these solutions, the identity of an online user could be analysed in detail with minimum effort and time by taking into account digital footprints and relevant data from user ID documents.

    Protecting Children from Online Harms

    You cannot stop children from using the internet, but supervision does help in this regard.  When we talk about safeguarding minors from online harms, parents are not the only ones responsible. Businesses also have the moral and social obligation to make sure the privacy and security of children’s data is their top priority. 

    The recent Milestone Online Safety Bill by the UK government highlights issues regarding fake identities used by cybercriminals to deceive minors in giving out their personal data. In order to combat financial fraud and social media scams, it states robust measures to make the internet a much safer place for children. 

    There are certain service providers on the internet that sell age-restricted products which are not appropriate for children. These businesses may oftentimes need a digital age verification solution to help them comply with age specific-laws, helping them create a better brand image too. 

    Staying Compliant with Regulations 

    Operating in the digital space is not easy as it comes with a lot of responsibilities, one of which is stringent Anti Money Laundering (AML) obligations by regulatory authorities. These are mandatory for financial organisations since they are always on the verge of potentially ill cybercrime instances. 

    Considering this, compliance may not come at the cost of compromising user experience. This is why businesses have to maintain a fine balance between abiding by the rules and performing effortless onboarding and customer verification. 

    identity

    Surviving the Intense Market Competition

    Digital adoption has become the need of the hour. In today’s technology-driven world, a business cannot survive without innovation.  Companies are investing huge sums in technologies like Artificial Intelligence, Big Data Analytics and Machine Learning to outsmart their competitors using state-of-the-art methods. All this is essential for customers to enjoy a seamless experience while opening accounts and performing transactions at the comfort of their home through digital identity verification.  

    Why Digital Identity Verification is the Way Forward?

    Since, today many businesses have turned towards the digital landscape amid the COVID-19 restrictions and the increased consumer demand, identifying who is a legitimate customer and who not has become even more significant. Shufti’s digital identity verification services powered by enhanced AI technology deliver accurate and quick results for real-time customer onboarding. 

    Recognising the needs of the digital space, Shufti has made its client-centric IDV solutions available in over more than 230 countries and territories with an additional free trial of 7 days. Apart from that, omnichannel integration, customized hosting page services, and a knack for an effortless customer experience makes Shufti different from other players in the market.    

    Have more questions? Get in touch with our experts.

    Related Posts

    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...

    Global Economies are joining forces with FATF against money laundering Explore More

    Blog

    Why Do Freelancing Platforms Need KYC?

    Technological advancements came with several betterments for humans. Where every industry is bene...

    Why Do Freelancing Platforms Need KYC? Explore More

    Blog

    New Regulatory Initiatives to Revamp the US Crypto Landscape

    With digital currencies gaining prominence, the US financial landscape has seen major transformat...

    New Regulatory Initiatives to Revamp the US Crypto Landscape Explore More

    Blog

    KYC & AML – A Top Priority for Soaring Buy Now, Pay Later Services

    In today’s credit-thirsty world, Buy Now, Pay Later has emerged as a clear winner, forever changi...

    KYC & AML – A Top Priority for Soaring Buy Now, Pay Later Services Explore More

    Blog

    Major Fines in the Gaming and Gambling Industry and the Role of e-IDV

    The outbreak of Covid-19 has changed how we do business. Many firms that used to operate physical...

    Major Fines in the Gaming and Gambling Industry and the Role of e-IDV Explore More

    Blog

    KYC Verification – Fraud Prevention in FinTech & the Payments Industry

    The growth of the online payment industry and FinTech companies comes with a simultaneous increas...

    KYC Verification – Fraud Prevention in FinTech & the Payments Industry Explore More

    Blog

    Online Dating Scams – ID Verification Solution to the Rescue

    COVID-19 exposures and its associated risks with today’s in-person meetups and traditional ...

    Online Dating Scams – ID Verification Solution to the Rescue Explore More

    Blog, Identity & KYC

    10 Quick Tips Regarding Identity Theft Protection

    Identity fraud has grown substantially in the past two decades, and unfortunately, it is here to ...

    10 Quick Tips Regarding Identity Theft Protection Explore More

    Blog

    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...

    KYC/AML Compliance for Startups in the Financial Sector – How Shufti Can Help Explore More

    Blog, Fraud Prevention

    Fraud Prevention through Secure Payment Processes

    Here’s a question, why do people always say things like  “the good days”? The fact is a number of...

    Fraud Prevention through Secure Payment Processes Explore More

    Blog

    COVID-19 pandemic turning into a financial crime threat

    A few months back when the World Health Organization (WHO) declared coronavirus a “pandemic” it l...

    COVID-19 pandemic turning into a financial crime threat Explore More

    Blog

    Cross-Border KYC Compliance | Understanding and Overcoming the Challenges

    To handle money laundering incidents and rising regulatory pressure, the banking industry benefit...

    Cross-Border KYC Compliance | Understanding and Overcoming the Challenges Explore More

    Blog

    NFC Verification for Seamless Customer Onboarding

    As more than 80% of today’s smartphones have NFC technology, different industries are working tow...

    NFC Verification for Seamless Customer Onboarding Explore More

    Blog

    Shufti Marks 4 Years of Streamlining KYC and AML for Global Businesses

    October 2021 marks four complete years since the launch of Shufti. As years begin to stack, t...

    Shufti Marks 4 Years of Streamlining KYC and AML for Global Businesses Explore More

    Blog

    Understanding False Positives in AML Transaction Monitoring

    Financial institutions such as banks, neo-banks, insurance companies, investment companies, finte...

    Understanding False Positives in AML Transaction Monitoring Explore More

    Blog

    Combating Identity Theft in On-Demand Services with Shufti’s KYC Solution

    Transition is the only thing that is inevitable in the universe. Every passing day is changing ou...

    Combating Identity Theft in On-Demand Services with Shufti’s KYC Solution Explore More

    Blog

    Combatting Fraud in the Automotive Industry

    Fraud is a growing concern for many industries and the automotive industry is no exception. In 20...

    Combatting Fraud in the Automotive Industry Explore More

    Blog

    4 Industries Where OCR Technology Can Work Wonders

    Today, online businesses need to meet the constantly evolving customer needs to survive market co...

    4 Industries Where OCR Technology Can Work Wonders Explore More

    Blog

    Video KYC – Ultimate Solution for Financial Institutions

    With social distancing becoming the necessity during the pandemic, more and more companies began ...

    Video KYC – Ultimate Solution for Financial Institutions Explore More

    Blog

    Swipe Right on Facial Verification for Secure Online Dating

    In today’s COVID-ridden world, in-person dating is deemed very risky due to the spread of the vir...

    Swipe Right on Facial Verification for Secure Online Dating Explore More

    Blog

    Reshaping the Travel Industry with NFC Verification – How Shufti Can Help

    With emerging technologies and the increasing use of digital services, the travel industry has be...

    Reshaping the Travel Industry with NFC Verification – How Shufti Can Help Explore More

    Blog

    Address Verification: The Cornerstone of Elevating Customer Experience

    Today’s highly emerging technology is changing the way consumers shop online products. Given the ...

    Address Verification: The Cornerstone of Elevating Customer Experience Explore More

    Blog

    Difference between KYC and AML

    The growing Fintech industry leads to an increased demand for KYC and AML compliance requirements...

    Difference between KYC and AML Explore More

    Blog

    KYCC – Going an Extra Mile to Prevent Financial Crimes

    As cases of money laundering and terror financing are increasing globally, the concerns to overco...

    KYCC – Going an Extra Mile to Prevent Financial Crimes Explore More

    Blog

    Singapore’s Digital Payment Token and AML Regulations [2022 Updates]

    Financial crimes are an ever-increasing threat to the global economic climate. As a financial hub...

    Singapore’s Digital Payment Token and AML Regulations [2022 Updates] Explore More

    Blog

    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...

    Third-party Due Diligence – Red Flags, Regulations and 5 Ways to Enhance It Explore More

    Blog

    Detecting & Preventing KYI Fraud | A Deep-Dive into 2023 Investment Scams

    Businesses need to bring on reliable partners and investors who can contribute to growth, provide...

    Detecting & Preventing KYI Fraud | A Deep-Dive into 2023 Investment Scams Explore More

    Blog, Financial Crime / AML

    What is PEP Compliance and Why do Financial Institutions Need it?

    For Politically Exposed Persons (PEPs), an inter-governmental body established in 1989, Financial...

    What is PEP Compliance and Why do Financial Institutions Need it? Explore More

    Blog

    AML in Real Estate – Combating Property Scams at the Forefront

    Real estate is deemed to be a profitable and safe business to invest in thanks to its ever-growin...

    AML in Real Estate – Combating Property Scams at the Forefront Explore More

    Blog

    Customer Risk Assessment: Strengthening Security in the Digital Age

    Business partners, vendors, and third parties play essential roles in daily operations, contribut...

    Customer Risk Assessment: Strengthening Security in the Digital Age Explore More

    Blog

    Digital Safety for Social Media, Gaming & E-Commerce Platforms

    As people and businesses are getting more and more connected online, social media continues to pl...

    Digital Safety for Social Media, Gaming & E-Commerce Platforms 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

    Securing Gig Economy Operations and Contributing to the Growth with KYC Solutions

    Startups, SMEs, and the gig industry have seen unprecedented growth. Not to mention, COVID-19 was...

    Securing Gig Economy Operations and Contributing to the Growth with KYC Solutions Explore More

    Blog

    Rising Concerns of Money Laundering and the Role of Global Financial Sanctions

    Since 9/11, money laundering has become a global issue that has raised alarms for financial watch...

    Rising Concerns of Money Laundering and the Role of Global Financial Sanctions Explore More

    Blog

    Online Privacy, Security & Inclusivity in a Digital World: Congress Hearing 2021

    On 16 July 2021, the US Financial Services Task Force on Artificial Intelligence held a virtual h...

    Online Privacy, Security & Inclusivity in a Digital World: Congress Hearing 2021 Explore More

    Blog

    Breaking the KYC Remediation Cycle through a Risk-based Approach

    Banks have paid more than USD 30 billion over the past few years due to ineffective policies to c...

    Breaking the KYC Remediation Cycle through a Risk-based Approach Explore More

    Blog

    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...

    A Fintech’s Journey to 100% Compliance and Rapid Growth Explore More

    Blog, Identity & KYC

    Digital ID Verification

      The Current Situation Digital ID Verification is the key to securing your business in thes...

    Digital ID Verification Explore More

    Blog

    More Than 500 Customers Onboarded in 3 Years – Shufti Spills the Beans

    Shufti Ltd. began operations in 2017 and within three years, the company has onboarded more t...

    More Than 500 Customers Onboarded in 3 Years – Shufti Spills the Beans Explore More

    Blog

    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 ...

    e-IDV: Safeguarding Businesses and Customers in the Digital Age Explore More

    Blog, Identity & KYC

    4 Ways KYC Banking Regulations are Shaping the Future

    Know Your Customer (KYC) regulations are vital for the banking system. Money laundering, depositi...

    4 Ways KYC Banking Regulations are Shaping the Future Explore More

    Blog

    Digital customer onboarding – Revamping onboarding process in banks

    The first impression is what counts most when it comes to customer-oriented services. Banks and f...

    Digital customer onboarding – Revamping onboarding process in banks Explore More

    Blog

    Optical Character Recognition (OCR) – Powering Shufti’s Document Verification

    Trust is a key factor when it comes to doing business or getting financial services from banks. A...

    Optical Character Recognition (OCR) – Powering Shufti’s Document Verification Explore More

    Blog

    Synthetic Identity – A New Form of Identity Fraud for 2019?

    Synthetic identity fraud (SIF) is a comparatively new form of identity theft that has gripped the...

    Synthetic Identity – A New Form of Identity Fraud for 2019? Explore More

    Blog

    The EU’s New AML Proposal, What’s in Store?

    To strengthen the EU’s Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) ...

    The EU’s New AML Proposal, What’s in Store? Explore More

    Blog

    Impact of COVID-19 on disruptive Fintech industry

    The economy and society worldwide are affected by the corona crisis. The effects of COVID-19 on b...

    Impact of COVID-19 on disruptive Fintech industry Explore More

    Blog

    Mobile Banking Adoption and the Rising Fraud Concerns Worldwide

    People have been repeatedly talking about the COVID-driven digital “transformation” in the bankin...

    Mobile Banking Adoption and the Rising Fraud Concerns Worldwide 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

    Anti-Money Laundering (AML) Solutions – Ensuring Responsible Gambling and Data Protection

    Like other industries, the gambling industry is also becoming a prime target of criminals. Howeve...

    Anti-Money Laundering (AML) Solutions – Ensuring Responsible Gambling and Data Protection Explore More

    Blog

    Identity checks – A Profitable Business Strategy or Another Business Expense?

    Online commerce is a necessity of every business these days. With nearly every consumer carrying ...

    Identity checks – A Profitable Business Strategy or Another Business Expense? Explore More

    Blog

    Top 10 FinTech Trends to Watch for in 2022

    2021 was a game-changer for the FinTech sector as it has come up with innovative payment gateways...

    Top 10 FinTech  Trends to Watch for in 2022 Explore More

    Blog

    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 ...

    Brazil to Launch CBDC: Its Impact on Financial Firms and How KYC/AML Can Help Explore More

    Blog

    Designing a Risk-free Customer Onboarding Flow for the Freelancing Industry

    Freelancing websites saw an increased demand during the pandemic, and the trends continued to ris...

    Designing a Risk-free Customer Onboarding Flow for the Freelancing Industry Explore More

    Blog

    Understanding the Difference Between Money Laundering and Embezzlement

    Money laundering and embezzlement are two financial offences involving the movement of significan...

    Understanding the Difference Between Money Laundering and Embezzlement Explore More

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

    Know Your Business-Pillar of Strength To AML Regulations

    Moving in the world of technology, where every industry is going digital, there has been very les...

    Know Your Business-Pillar of Strength  To  AML Regulations Explore More

    Blog

    Is Your Company Safe? The Importance of Document Verification to Strengthen KYC Checks

    Businesses across the globe are still vulnerable to threats like money laundering, terrorist fina...

    Is Your Company Safe? The Importance of Document Verification to Strengthen KYC Checks Explore More

    Blog

    Age Gating VS Age Verification | Enhancing Security for Minors

    Age gating was once employed to stop minors from accessing age-restricted content. However, the a...

    Age Gating VS Age Verification | Enhancing Security for Minors Explore More

    Biometric Technology, Blog, Online Marketplace

    Why a Business would need Biometric Consent Verification?

    Biometric consent verification is a unique solution from Shufti that enables businesses and c...

    Why a Business would need Biometric Consent Verification? Explore More

    Blog

    January 2023 Recap: Major Events Worldwide and How AML Verification Solution Can Help

    Noncompliance with Know your Customer and Anti Money Laundering (KYC) regulations continue to pla...

    January 2023 Recap: Major Events Worldwide and How AML Verification Solution Can Help Explore More

    Blog

    High-Risk Countries and The Significance of AML/CFT Regulations – How Shufti Can Help

    Money laundering and terrorist financing are becoming a global concern. To overcome the risk of c...

    High-Risk Countries and The Significance of AML/CFT Regulations – How Shufti Can Help Explore More

    Blog, Financial Crime / AML, Fraud Prevention, Identity & KYC

    The FinTech Industry: A Snapshot

    What is FinTech? Financial technology, known more commonly as FinTech, is a term that refers to t...

    The FinTech Industry: A Snapshot Explore More

    Blog

    Establishing trust in Open Banking through Identity Verification

    Over the last few years, open banking is becoming an emanated global trend. This rising trend is ...

    Establishing trust in Open Banking through Identity Verification Explore More

    Blog

    The Power of Robotic Process Automation in the Banking Industry

    Entering into the fourth industrial revolution, business processes are shifted to the digital sph...

    The Power of Robotic Process Automation in the Banking Industry Explore More

    Blog

    The Power of Identity Verification Solutions in Ensuring Risk-Free Recruitment Operations

    Over the recent years, the employment industry has undergone significant changes, from mass offbo...

    The Power of  Identity Verification Solutions in Ensuring Risk-Free Recruitment Operations Explore More

    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...

    KYC Isn’t Enough: Get Ready for the Future of Verification Explore More

    Blog, Fraud Prevention

    ID Verification Trends to Curb Online Frauds

    Automated Identity Verification Can Play a Significant Role in Fraud Management Fraud management ...

    ID Verification Trends to Curb Online Frauds Explore More

    Blog

    Document Authentication | Streamlining Onboarding, Compliance & Fraud Prevention

    Before the world experienced digitisation due to the advent of smartphones, fast-speed internet, ...

    Document Authentication | Streamlining Onboarding, Compliance & Fraud Prevention Explore More

    Blog, Financial Crime / AML

    Shufti integrates AML Compliance into its end-to-end Verification Services

    Shufti has now launched AML compliance in its set of identity verification services to provid...

    Shufti integrates AML Compliance into its end-to-end Verification Services Explore More

    Blog

    Online Video KYC: Eliminate the Risks of Identity Theft

    The growing danger of cybercrime and data breaches has heightened the demand for effective verifi...

    Online Video KYC: Eliminate the Risks of Identity Theft Explore More

    Blog, Fraud Prevention

    Fraud Prevention through Secure Payment Processes

    Here’s a question, why do people always say things like  “the good days”? The fact is a number of...

    Fraud Prevention through Secure Payment Processes Explore More

    Blog

    5 Ways Face Recognition Will Become More Prevalent in 2023 and Beyond

    During the covid pandemic, many businesses updated their access control systems to facial recogni...

    5 Ways Face Recognition Will Become More Prevalent in 2023 and Beyond Explore More

    Blog

    UK’s On-Demand Culture – Building Trust & Security with Digital ID Verification

    People across the world are spending more time on the internet ever since the pandemic struck the...

    UK’s On-Demand Culture – Building Trust & Security with Digital ID Verification 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