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

    Why have IPOs started Implementing Digital KYC?

    Ipo Digital Kyc

    Have you heard the phrase “I’m afraid we have to go public Mark”, well then you are on right page to understand, that is a time and position when companies face the public.

    For most Chief Financial Officers, this is a daunting and nerve wracking period. Directing and organising an initial public offering can be the most stressful yet rewarding tasks they would ever undertake. How they execute their plan, arrange people, market and strategise, will define their success. Once an IPO closes, CFOs quickly implement the process of executing the post IPO business plan. An aspect under cloak, is the performing of Digital KYC procedures on investors for secure customer on-boarding.

    Understanding IPOs

    At its core, an Initial public offering is where a previously unlisted company sells new or existing shares (securities) of itself to the general public for the very first time. Prior to an IPO, a company is thought to be private, with limited investors and small number of high profile investors. Whereas, after an IPO, the company becomes publicly listed and recognised on a stock exchange.    

    Reasons Behind Carrying out an IPO

    Reasons to go public can be one and many, varying from company to company but mostly reasons ought to be quite straight forward. For companies, it’s simply a money making move. Normally companies go public when they require more liquidity at hand and increase capital on hand by selling shares publicly. The money that is collected is then later reinvested for business expansion and business infrastructure upgrade, or meeting targets according to future growth plans.

    Additionally, when a company goes public, it is in a way advertising itself. The larger the firm the greater chances of it attracting top candidates globally, to be part of their stock ownership plan.
    On another note, going public enables companies to utilize stock options as a part of their merger or acquisition deals with other companies in acceptance as payment.  

    There’s also prestige, for some companies its a great deal on bragging rights to be listed on major stock exchanges of the world – like the NYSE, Nasdaq, LSE or JPX.

    IPO’s and Third Party KYC/AML Service Providers

    Initial Public Offering is a long, tedious and a complicated process in undertaking for any company CFO’s and managers conducting the IPO. While the general idea is to raise money, most companies tend to miss out on a crucial aspect in the Pre-IPO process – KYC – ‘Know Your Customer’.

    Unlike ICO’s which are non-regulated, the process of an IPO is fairly intricate and complex. Companies and managers are occupied with consistent backlog of government and legal paperwork, tax amendments, procedural updates and long business documents that Knowing your customer becomes a second priority.

    This is where third party service providers come in play and facilitate large companies in their IPO processes and provide them Digital KYC services, to secure their investments by ensuring the purchases of stocks are made by legitimate and authentic entities.

    Voice of Independent Regulatory Bodies

    International Regulatory bodies, like The Securities and Futures Commission (SFC) express directives that generally direct the adequate involvement of placing KYC procedures. For Investors, placing agents and fund managers need to oversee in respect to the Code of Conduct.  

     

    • Take all reasonable steps to establish the true and full identity of each of its clients, and of each client’s financial situation, investment experience, and investment objectives
    • Be satisfied on reasonable grounds about the identity, address and contact details of:
      1. The person or entity (legal or otherwise) ultimately responsible for originating the instruction in relation to a transaction; and
      2. The person or entity (legal or otherwise) that stands to gain the commercial or economic benefit of the transaction and / or bear its commercial or economic risk.

    Prefered Choice of IPO for Digital KYC

    Most IPOs that happen, involve time, money and risk. The largest of all, is the risk that it exposes itself to a pool of potentially global clients, that are waiting to invest and buy shares to increase the liquidity of a company. Most of these smaller clients, single investors are unknown to the offering company.

    In order to validate an individual’s Identity and ensure security to not only the company but also the IPO sale as well, Shufti lends a dependable arm by being a reliable Digital KYC and AML operator. Shufti facilitates IPOs in providing all identity and document verification services under a greater Identity Management Suite. In specific, when a potential contributor or investor comes forward, Shufti possesses the required procedures of CDD – Customer Due Diligence and EDD – Enhanced Due Diligence in place, as a part of it’s greater KYC narrative.

    For small or high stake companies undergoing an IPO,  a dedicated KYC platform like Shufti offers quick real-time processing for Identity verification – saving valuable time in the process and quicker investor on-boarding. A versatile system like Shufti is an adequate fit, providing a scalable solution with maximum usability of the internet for enhanced customer facilitation. Shufti will verify identities by requesting the customers to face a camera and then show an ID documentation, focusing in on the Picture, DOB, Name and Proof of Address(if applicable).

    The AI technology will identify any potential shortcomings in documents or facial mismatch and display results accordingly. Thus, reducing the chances of fraud taking place with IPOs, by minimising the accessibility to only authentic identities with valid documents to be worthy enough to participate in the IPO.   

    Accepting Inevitables

    Fraud posses a universal threat to all global institutions, whether they may be financial or major companies undergoing an IPO. In a process that puts its stock image and financial presence in jeopardy, the likelihood of fraud is an imminent cloud atop firms and companies alike. A dedicated Digital KYC platform can drastically help mitigate risks and ensure that a company’s IPO process executes smoothly with added legitimacy of investors, along with being ‘All Clear’ with international Regulatory authorities.

    Recommended For You:

    Related Posts

    Blog

    Build Trust and Secure Online Dating Platforms with Identity Verification Solutions

    Online dating scams, such as the one filmed in the recent Netflix Original documentary “ The Tind...

    Build Trust and Secure Online Dating Platforms with Identity Verification Solutions 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

    Biometric Technology, Blog

    Biometric Authentication: Applications and Constraints

    Biometric authentication is considered as an advanced way of ensuring Know Your Customer (KYC). T...

    Biometric Authentication: Applications and Constraints Explore More

    Blog, Online Marketplace

    What is Open Banking & Why Does it Matter in 2019?

    Open banking is surely one of those trends that have the potential to change the banking and fina...

    What is Open Banking & Why Does it Matter in 2019? Explore More

    Blog

    Strong Customer Authentication (SCA) – Factors, Methods, and Benefits

    In Europe, new customer authentication requirements for online payments were introduced on Septem...

    Strong Customer Authentication (SCA) – Factors, Methods, and Benefits Explore More

    Blog

    e-IDV: The Key to Fraud Prevention in FinTech

    After years of enormous growth, investment in the fintech market declined in 2022. Susceptibility...

    e-IDV: The Key to Fraud Prevention in FinTech Explore More

    Blog

    Fighting Deepfakes with Fool-Proofed Identity Verification Systems: How Shufti Can Help

    Undoubtedly, 21st century is the most innovative time period in human history. With every passing...

    Fighting Deepfakes with Fool-Proofed Identity Verification Systems: How Shufti Can Help Explore More

    Blog

    Travel Fraud and the Crucial Role of e-IDV

    The travel sector is booming in this age of digitisation, and air travellers are estimated to dou...

    Travel Fraud and the Crucial Role of e-IDV 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

    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 ...

    New Rules by the UK Gambling Commission and Their Impact Explore More

    Blog

    Risk Assessment – Building Trust in Financial Institutions

    For financial institutions to hold onto their customers, they must build and conserve advanced le...

    Risk Assessment – Building Trust in Financial Institutions Explore More

    Blog

    May 2023 Recap: The Latest Global Regulatory Updates

    Technological advancements have paved the way for scammers to perpetrate various financial crimes...

    May 2023 Recap: The Latest Global Regulatory Updates Explore More

    Blog

    Dirty Funds & Tax Evasion – Can the Crypto Sector Be Safeguarded?

    2021 has turned out to be another eventful year for the cryptocurrency sector. In just a span of ...

    Dirty Funds & Tax Evasion – Can the Crypto Sector Be Safeguarded? Explore More

    Blog

    Facial Recognition: A Technology for Online Businesses to Prevent Fraud

    Today, biometric technology has traditionally established itself and has become an integral part ...

    Facial Recognition: A Technology for Online Businesses to Prevent Fraud Explore More

    Blog

    CBN Regulatory Regime – New KYC/AML Requirements Payment Services Banks

    With the increased risk of financial crime, banks and other financial institutions within a state...

    CBN Regulatory Regime – New KYC/AML Requirements Payment Services Banks Explore More

    Blog

    E-KYC – The Next Step in the Evolution of KYC Verification

    As the world shifts to digital applications, financial operations are being automated for added c...

    E-KYC – The Next Step in the Evolution of KYC Verification Explore More

    Blog, Identity & KYC

    Cybercrimes Rise 5 times in 4 years and Continue to Soar!

     A rapid stride in the tech world over the years has increased cybercrimes immensely. According t...

    Cybercrimes Rise 5 times in 4 years and Continue to Soar! 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

    Mounting Cases of Money Laundering through Digital Currencies in 2021

    Even though cryptocurrencies like Bitcoin, Ethereum, and Dogecoin are increasing rapidly, yet the...

    Mounting Cases of Money Laundering through Digital Currencies in 2021 Explore More

    Blog, Financial Crime / AML

    Impact of Regulatory Scrutiny & AML Compliance in Real Estate

    Anti Money Laundering (AML): Criminals around the globe are targeting real estate to launder the ...

    Impact of Regulatory Scrutiny & AML Compliance in Real Estate Explore More

    Blog

    The Crucial Role of Know Your Customer (KYC) in Gaming

    The gaming sector has grown exponentially since the first arcade games of the 70s. Surpassing mus...

    The Crucial Role of Know Your Customer (KYC) in Gaming Explore More

    Blog

    Top 7 Trends Shaping the Future of Gambling Industry in 2023

    Amidst technological advancement and the changing regulatory landscape, the gaming sector demonst...

    Top 7 Trends Shaping the Future of Gambling Industry in 2023 Explore More

    Blog

    Disruptive Fintech Trends 2020

    Fintech has changed the way consumers access their finances. From mobile payment apps to insuranc...

    Disruptive Fintech Trends 2020 Explore More

    Blog, Online Marketplace

    Secure Online Gambling through Identity and Age Verification

    Gambling is a very profitable business for big players and owners alike. According to research, t...

    Secure Online Gambling through Identity and Age Verification Explore More

    Blog

    How Online ID Verification Supports Age-restricted Sellers?

    The online stores selling age-restricted products like gaming services, medicine or drugs are in ...

    How Online ID Verification Supports Age-restricted Sellers? Explore More

    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...

    4 Reasons why Facial Recognition is Better at Biometric Verification than Fingerprint Scans Explore More

    Blog

    Avoiding Billion-dollar Fraud & Non-Compliance Costs With Shufti

    Businesses deplete millions of dollars each year on outdated technologies, employee training, and...

    Avoiding Billion-dollar Fraud & Non-Compliance Costs With Shufti Explore More

    Blog

    Establishing a KYC/AML Compliance Regime for the FinTech Sector

    Today, more than 60% of the financial institutions in the market consider Fintech startups to be ...

    Establishing a KYC/AML Compliance Regime for the FinTech Sector Explore More

    Blog

    Facial Verification – Curing Fraud in the Healthcare Sector

    Healthcare professionals continue to be hot targets of bad actors and cybercriminals, with attack...

    Facial Verification – Curing Fraud in the Healthcare Sector Explore More

    Blog

    Gold Industry and Prevailing Financial Crimes – How Shufti’s AML Screening Can Help

    Using gold for financial crimes has a long history and in many countries, jewellery is not only c...

    Gold Industry and Prevailing Financial Crimes – How Shufti’s AML Screening Can Help Explore More

    Blog

    Fighting Deepfakes with Fool-Proofed Identity Verification Systems: How Shufti Can Help

    Undoubtedly, 21st century is the most innovative time period in human history. With every passing...

    Fighting Deepfakes with Fool-Proofed Identity Verification Systems: How Shufti Can Help Explore More

    Blog, Business Technology, Financial Crime / AML, Identity & KYC, Online Marketplace

    Know Your Business: The Next Step in Identity Verification

    The complex regulatory environment and increased exposure to illegal activities indicate that bus...

    Know Your Business: The Next Step in Identity Verification Explore More

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

    Winter is Coming: With a Storm of KYC and AML Regulations

    The ever-evolving regulations are creating challenges and complexities for the financial institut...

    Winter is Coming: With a Storm of KYC and AML Regulations 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

    KYC and AML For Fintech | A Comprehensive Guide to Fraud Prevention

    Since governments worldwide are increasing the pressure to regulate, compliance has become a key ...

    KYC and AML For Fintech | A Comprehensive Guide to Fraud Prevention Explore More

    Blog

    The 5 Pillars of Anti-money Laundering Compliance

    Imposters often “launder” money acquired through illegal activities, like drug trafficking, so th...

    The 5 Pillars of Anti-money Laundering Compliance Explore More

    Biometric Technology, Blog

    How Liveness Detection is an apt Answer for Facial Spoof Attacks?

    The world went haywire on the launch of the new iPhone X; well, to be honest, when does it not? H...

    How Liveness Detection is an apt Answer for Facial Spoof Attacks? Explore More

    Blog, Identity & KYC

    Which KYC Documents are Required for Customer Verification?

    Name, Rank, Brigade, and Serial Number. That’s the only information military organizations across...

    Which KYC Documents are Required for Customer Verification? Explore More

    Blog

    AML Screening – Revealing the True Identities of Ultimate Beneficial Owners in Businesses

    Hiding the Ultimate Beneficial Owners (UBOs) behind a business is never a good sign. However, som...

    AML Screening – Revealing the True Identities of Ultimate Beneficial Owners in Businesses Explore More

    Blog

    Risk Assessment: Building Trust Among Travellers

    The travel and tourism industry is among the largest in the world. Many countries, such as the UA...

    Risk Assessment: Building Trust Among Travellers Explore More

    Blog

    The Path to CX Leadership – An Interview with Saroni Kundu

    From Code to Customer: How Saroni Kundu Found Her Passion in CX In our latest Beyond Borders podc...

    The Path to CX Leadership – An Interview with Saroni Kundu Explore More

    Blog

    NFC – Building New Grounds for Identity Verification

    Near Field Communication (NFC) is based on the famous RFID technology. In 2002, Nokia was the fir...

    NFC – Building New Grounds for Identity Verification Explore More

    Blog

    Ensuring KYC/AML Compliance In Cryptocurrency Firms – The Role of Shufti

    With emerging technologies in the financial industry, cryptocurrency is picking up the pace, and ...

    Ensuring KYC/AML Compliance In Cryptocurrency Firms – The Role of Shufti Explore More

    Blog, Identity & KYC

    4 Know Your Customer (KYC) Strategies to adopt in 2019

    Digital fraud haunted the cyberspace in 2018 with the majority of online frauds originating from ...

    4 Know Your Customer (KYC) Strategies to adopt in 2019 Explore More

    Blog

    The Ultimate Guide to Central Know Your Customer (CKYC)

    Due to the increasing rates of financial fraud, keeping detailed data on each client is more impo...

    The Ultimate Guide to Central Know Your Customer (CKYC) Explore More

    Blog

    ID Document Fraud | Is Your Business Prepared to Fight the War Against Fraud in 2024?

     In today’s data-driven, digitized world, various business processes have been automated...

    ID Document Fraud | Is Your Business Prepared to Fight the War Against Fraud in 2024? Explore More

    Blog, Identity & KYC, Reg Tech

    RegTech: The Case for Financial Inclusion

    The FinTech industry has grown tremendously in recent years, introducing both scale and efficienc...

    RegTech: The Case for Financial Inclusion Explore More

    Blog, Identity & KYC

    Digital KYC Streamlines Customer On-boarding Process

    Shufti brings forth digital KYC verification services to perform identity verification proces...

    Digital KYC Streamlines Customer On-boarding Process 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

    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 Complete Guide | Identifying Fake Documents

    As digital transformation accelerates, many document application processes have become faster and...

    The Complete Guide | Identifying Fake Documents 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, Identity & KYC

    Common Online Scams You Need to Know About

    The explosion of the internet and the world moving towards the fourth industrial revolution have ...

    Common Online Scams You Need to Know About 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

    How to Protect Yourself From Cyber Crime in the Holiday Season?

    Most people around the world do the majority of their shopping during the holiday season. Accordi...

    How to Protect Yourself From Cyber Crime in the Holiday Season? Explore More

    Blog

    Age Verification: Data Privacy and User Protection

    In recent years, there’s been a lot of speculation surrounding the issue of whether or not ...

    Age Verification: Data Privacy and User Protection Explore More

    Blog

    The State of Fraud Detection & Prevention in 2024 | Ready, Set, Fraud

    Since the dawn of the internet in the 90s, we’ve witnessed multiple phases of digital revolution....

    The State of Fraud Detection & Prevention in 2024 | Ready, Set, Fraud Explore More

    Blog

    Crypto Regulations 2021 – The Updated Compliance Regime in France

    Within the last two years, France’ cryptocurrency landscape has experienced significant milestone...

    Crypto Regulations 2021 – The Updated Compliance Regime in France 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

    Reshaping Travel and Tourism with Instant Facial Recognition

    Few technologies have sparked much debate as much as facial recognition. Today, it is considered ...

    Reshaping Travel and Tourism with Instant Facial Recognition Explore More

    Blog

    FATF’s Stance on Digitizing FIUs and Adopting A Risk-Based Approach for VAs

    The Financial Action Task Force (FATF) is tirelessly working to guide Financial Intelligence Unit...

    FATF’s Stance on Digitizing FIUs and Adopting A Risk-Based Approach for VAs Explore More

    Blog

    Video KYC: Taking Traditional KYC to the Next Level

    Know Your Customer (KYC) has undergone continuous evolution since its inception. Its purpose is t...

    Video KYC: Taking Traditional KYC to the Next Level Explore More

    Blog

    KYC Checklist: A Comprehensive Guide for Businesses and Financial Institutions

    In the ever-evolving landscape of finance, having a solid defence against financial crime is cruc...

    KYC Checklist: A Comprehensive Guide for Businesses and Financial Institutions Explore More

    Blog

    eIDAS and eIDs – The Shift in Identity Verification in the EU & Beyond

    In the digital world, ensuring the security of international transactions is the ultimate goal of...

    eIDAS and eIDs – The Shift in Identity Verification in the EU & Beyond Explore More

    Blog

    Telehealth Services and Sophisticated Crimes – How Shufti Can Help Health Centers

     The speed of innovation has never been faster. Re-emerging from a global pandemic, busi...

    Telehealth Services and Sophisticated Crimes – How Shufti Can Help Health Centers Explore More

    Blog

    Ensuring Compliance and Preventing Losses Due to Fraud in the Banking Sector

    Banks are thought to be the most important part of the financial system, playing a vital role in ...

    Ensuring Compliance and Preventing Losses Due to Fraud in the Banking Sector Explore More

    Blog

    The Complete Guide | Transaction Monitoring for Financial Institutions

    With technological advancement, financial criminals have also been given a wider range of tools a...

    The Complete  Guide | Transaction Monitoring for Financial Institutions 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

    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...

    The State of Money Laundering in The United States – How Shufti Can Help Explore More

    Blog

    Facial recognition technology grooving into cruise ships for ID verification

    No more boarding frustration, no more standing in the queues for hours… The travel industry is re...

    Facial recognition technology grooving into cruise ships for ID verification 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, Identity & KYC, Online Marketplace

    Why 2 Factor Authentication is vital for Online Identity Risk Management?

    Online identity risk management is becoming harder and harder on cyberspace. It is a headache for...

    Why 2 Factor Authentication is vital for Online Identity Risk Management? 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