Banks have a lot to benefit from the remote account opening service as it allows them to bring a lot more customers onboard with lesser efforts or investment. There can be many means that can be utilised to provide remote account opening service to customers but identity verification is also necessary to make sure that...Read More
Customer Due Diligence that is otherwise known as CDD in banking and financial vernacular is an important aspect of AML compliance. There are various international regulators that have strict guidelines issued over the years in order to clamp down not only money laundering but to make its harder for funds to be transferred for carrying...Read More
South Korea is soon going to adopt regulatory measures to bring in crypto exchanges under regulatory compliance. Financial authorities like Korean Financial Intelligence Unit (KFIU) and other domestic financial regulators will make sure of the fact that crypto exchanges are using Digital KYC and AML Compliance practices to run their operations. Recently a move was...Read More
GDPR Compliance is here to stay and it is going to be binding on every business and online enterprise that wishes to operate in European Union or want to offer its services to EU citizen despite having a non-EU presence. But this user-friendly and pro data rights regulations create an interesting scenario for companies utilising...Read More
KYC services play a vital role in conducting an ICO in more than one way. They can make the entire process transparent and can boost the credibility of the company intending to hold that ICO. Digital KYC services also assist the organizers to blacklist individuals that can pose financial crime risk for the initial offering....Read More
Forex Industry stands to benefit a lot by incorporating KYC services in addition to AML Compliance solutions. A smart KYC service like Shufti Pro will enable forex businesses to better understand the identity of their customers and prevent their services from being used for fraudulent activities, scams, terror funding or money laundering activities.Identity verification is...Read More
AML Compliance for US based Cryptocurrency companies has been tightened by Financial Crimes Enforcement Network (FinCEN) in recent years. This tightening of regulations is mainly owed to the fact that cryptocurrencies like Bitcoin and Ethereum are being used at a much larger scale in modern days for transactions and paying for services. This increased usage...Read More
Hong Kong serves as financial hub of trade and financial industry especially due to its strategic location in APAC and Far East Region. Along with Singapore, Hong Kong’s financial market handles funds from Western capitals of finance for global trade activities. This makes AML Compliance a necessary aspect for funds managers and banking institution. Stock...Read More
Digital KYC Services for US based customers are in debt of Real ID Act as it streamlined the process of issuance of identity verification documents. Real ID Act was able to introduce basic standards to assist US States when they issue a driving license to their citizen or any other relevant identity verification document. 9/11...Read More
ID verification services are at the forefront of making online marketplace transparent and ensuring that each transaction made on cyberspace is authentic. The credentials used for that transaction are accurate and belong to same person who made the transaction. Even if a transaction is not performed, Digital ID verification services ensure that identity of a...Read More
