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

    3.148.226.67

    Bill to Combat Money Laundering Makes Its Way Through The Senate

    Bill to Combat Money Laundering Makes Its Way Through The Senate

    The US House of Representatives passed the Corporate Transparency Act of 2019 (HR 2513) on October 22, 2019. It is currently being reviewed by the Senate. 

    The bill aims to reveal the true owners of “anonymous” shell companies to law enforcement agencies. It will have major implications for all the small businesses and their owners. The bill would require businesses, that didn’t fall under the Bank Secrecy Act, to report every transaction, however small, to the government. Moreover, the business owners would have to alert the authorities regarding any suspicious activity, while maintaining a comprehensive record of all sales.

    United Nations finance expert, Eric LeCompte, said of the bill, 

    “This legislation helps us stop human traffickers and corrupt public officials and protects development aid. Shell companies contribute to a trillion-dollar loss to the developing world every single year.”

    This bill is part of an extensive effort to crack down on money laundering and terrorist financing in both the US and Europe. Passed by the House of Representatives on October 22, it is now being evaluated by the committee experts in the Senate. 

    Related Posts

    News

    Regulators Express Concerns on TD Bank’s AML Practices Leading to Merger Termination to Acquire First Horizon Bank

    TD Bank was being examined by the Office of the Federal Reserve and the Comptroller of the Curren...

    Regulators Express Concerns on TD Bank’s AML Practices Leading to Merger Termination to Acquire First Horizon Bank Explore More

    News

    UAE Establishes Anti-Money Laundering Bodies to Enhance Global Monitoring

    The United Arab Emirates is enhancing its money monitoring system to combat illicit cash flows, m...

    UAE Establishes Anti-Money Laundering Bodies to Enhance Global Monitoring Explore More

    News

    UKGC Imposes EUR 780K Fine on Buzz Bingo for AML Failure

    Buzz Bingo has been fined £780,000 by the UK Gambling Commission (UKGC) for social responsibility...

    UKGC Imposes EUR 780K Fine on Buzz Bingo for AML Failure Explore More

    News

    Facial Recognition Market to Grow 12.5% Annually Through 2024

    According to a new report by Mordor Intelligence, the facial recognition market is expected to gr...

    Facial Recognition Market to Grow 12.5% Annually Through 2024 Explore More

    News

    Amended Secrecy Law to Help Philippines Exit the Grey-List

    The Philippines has proposed amendments to the Banking Secrecy Law to regulate financial accounts...

    Amended Secrecy Law to Help Philippines Exit the Grey-List Explore More

    News

    Jamaica Shows Significant Progress in Anti-Money Laundering Compliance

    Jamaica impressively complied with 37 recommendations from 40 international Financial Action Task...

    Jamaica Shows Significant Progress in Anti-Money Laundering Compliance Explore More

    News

    The Cayman Islands Lead Overseas Delegations Discussing Actions to be Removed from FATF’s Gray List

    The Attorney General of Cayman, Samuel Bulgin, KC, and the Minister for Financial Services and Co...

    The Cayman Islands Lead Overseas Delegations Discussing Actions to be Removed from FATF’s Gray List Explore More

    News

    Ukraine to Scale-up Fight Against Financial Crimes

    Ukraine’s Cabinet of Ministers has approved a plan that will strengthen the measures to prevent f...

    Ukraine to Scale-up Fight Against Financial Crimes Explore More

    News

    Philippine Plans to Introduce New Regulations on Beneficial Ownership

    The Securities and Exchange Commission in Philippine has laid out new regulations that require tr...

    Philippine Plans to Introduce New Regulations on Beneficial Ownership Explore More

    News

    U.S. Treasury Identifies Emerging Money Laundering Risks and Vulnerabilities

    The US Department of the Treasury recently issued its National Risk Assessment for Money Launderi...

    U.S. Treasury Identifies Emerging Money Laundering Risks and Vulnerabilities Explore More

    News

    Despite the Concerns, Arizona Bans Vaccine Passports for Government

    Governor of Arizona, Doug Ducey has restricted the local and state government agencies from askin...

    Despite the Concerns, Arizona Bans Vaccine Passports for Government Explore More

    News

    UAE Starts to Scrutinize Businesses to Ensure KYC/AML Compliance

    The UAE’s Ministry of Economy now starts the inspections of Designated Non-Financial Businesses a...

    UAE Starts to Scrutinize Businesses to Ensure KYC/AML Compliance Explore More

    News

    Roll-out of vital banking fraud check postponed again due to Coronavirus

    A crucial banking security check that could avert the loss of millions of pounds to internet frau...

    Roll-out of vital banking fraud check postponed again due to Coronavirus Explore More

    News

    £78 Million Stolen in Investment Scams, Warns FCA

    FCA- Financial Conductive Authority has given out a warning as the investment scams regarding ‘cl...

    £78 Million Stolen in Investment Scams, Warns FCA Explore More

    News

    Kenya Takes First Step to Regulate Virtual Asset Market

    The Kenyan government is all set to take the first step to regulate a vast $20 Billion crypto mar...

    Kenya Takes First Step to Regulate Virtual Asset Market Explore More

    News

    UAE Levies Charges Over DH115 Million to Combat Money Laundering

    A total of Dh115 million ($31.3 million) has been fined by the UAE in its efforts to impede money...

    UAE Levies Charges Over DH115 Million to Combat Money Laundering Explore More

    News

    Cyprus Securities and Exchange Commission Warns Investing Firms for AML Non-Compliance

    The Cyprus Securities and Exchange Commission (CySEC) warned the Cyprus Investment Firms (CIFs)  ...

    Cyprus Securities and Exchange Commission Warns Investing Firms for AML Non-Compliance Explore More

    News

    FINRA Issues its Examination and Risk Monitoring Program Report 2023

    FINRA published its 2023 report on its Examination and Risk Monitoring Program, covering all the ...

    FINRA Issues its Examination and Risk Monitoring Program Report 2023 Explore More

    News

    FIAU Imposes €60,000 Fine on Audit Firm for AML Failings

    €60,000 fine imposed on an audit company, for failing to report money laundering and suspected ta...

    FIAU Imposes €60,000 Fine on Audit Firm for AML Failings Explore More

    News

    Hong-Kong Police Crack money-laundering Cartel of Processing HK$119 Million in 2 months

    Hong Kong police have rounded up 11 men in a crackdown on a cross-border syndicate with a suspect...

    Hong-Kong Police Crack money-laundering Cartel of Processing HK$119 Million in 2 months Explore More

    News

    Louisiana Approves First Regulation Requiring Age Verification to Access Pornography Sites

    Louisiana’s House of Representatives passed the bill against age verification in the porn industr...

    Louisiana Approves First Regulation Requiring Age Verification to Access Pornography Sites Explore More

    News

    DISA is Working on a Digital Identity, Credential, and Access Management Tool

    According to Nextgov reports, the Defense Information System Agency (DISA) in the US has announce...

    DISA is Working on a Digital Identity, Credential, and Access Management Tool Explore More

    News

    Prevailing Financial Crimes Make London a Safe Haven for Money Launderer

    The UK’s capital is exposed to multiple financial crimes including money laundering and thefts wi...

    Prevailing Financial Crimes Make London a Safe Haven for Money Launderer Explore More

    News

    Brace for Home Visits, FCA Warns Remote Traders and Bankers

    UK’s Financial Conduct Authority has issued a warning for all hybrid-working financial institutio...

    Brace for Home Visits, FCA Warns Remote Traders and Bankers Explore More

    News

    EU Endorses New Crypto Tax Data Sharing Rules

    Strict obligations are set to be implemented in the EU’s digital assets industry. Tax authorities...

    EU Endorses New Crypto Tax Data Sharing Rules Explore More

    News

    Beware: Vaccine-phishing scams have risen by 500 percent

    Vaccine-phishing scams have increased by 530 per cent, as stated by a new study by Unit 42, the P...

    Beware: Vaccine-phishing scams have risen by 500 percent Explore More

    News

    COVID-19 Vaccines at the Risk of being Illegally Obtained by Fraudsters

    There is nothing more awaited than the coronavirus vaccine this year. The international agencies ...

    COVID-19 Vaccines at the Risk of being Illegally Obtained by Fraudsters Explore More

    News

    Man Arrested For Stealing Identities, Funding 1800 Online Gambling Accounts

    The man suspected of stealing other’s identities to create online gambling accounts has finally b...

    Man Arrested For Stealing Identities, Funding 1800 Online Gambling Accounts Explore More

    News

    Financial Watchdogs Flags Crypto Mixer Stoking as a Potential Risk For Money Laundering

    Cryptocurrencies are highly criticized by financial watchdogs and governments for potential risk ...

    Financial Watchdogs Flags Crypto Mixer Stoking as a Potential Risk For Money Laundering Explore More

    News

    Westpac Freezes Executive’s Bonuses Amid Money Laundering Scandal

    Westpac’s board will withhold bonuses of all of its senior executives as an ‘interim’ step follow...

    Westpac Freezes Executive’s Bonuses Amid Money Laundering Scandal Explore More

    News

    Turkey’s Regulatory Authorities Oblige Rigid Crypto Licensing Measures

    Turkey’s Regulatory Authorities stated they will develop rigid regulations for crypto service pla...

    Turkey’s Regulatory Authorities Oblige Rigid Crypto Licensing Measures Explore More

    News

    SriLankan Government to Enforce Money Laundering Law to Restrict Illicit Flow of Money

    The current scenario of the Sri Lankan currency’s downfall has become a reason for money la...

    SriLankan Government to Enforce Money Laundering Law to Restrict Illicit Flow of Money Explore More

    News

    A Brussel Led Crackdown to be Held in Britain if EU Demands are not Met

    MEPs have ordered Brussels to black-list the city of London if it does not comply with the EU’s D...

    A Brussel Led Crackdown to be Held in Britain if EU Demands are not Met Explore More

    News

    Germany to Establish New Regulatory Body to Combat Money Laundering

    It has been reported that the German government will create a new regulatory body to combat money...

    Germany to Establish New Regulatory Body to Combat Money Laundering Explore More

    News

    “Steer Clear Of Online Shopping Fraud This Holiday Season”, Says Victor Fredung

    Following the FTC’s statement regarding online shopping fraud, Shufti’s CEO Victo...

    “Steer Clear Of Online Shopping Fraud This Holiday Season”, Says Victor Fredung Explore More

    News

    Gambling Commission Fines Entain £17m for Social Responsibility & Anti-Money Laundering Failures

    Ladbrokes owner Entain has been fined £17m by the Gambling Commission for social responsibility a...

    Gambling Commission Fines Entain £17m for Social Responsibility & Anti-Money Laundering Failures Explore More

    News

    FCIU Uncovers Money Laundering Patterns Through Social Media Scams

    South Yorkshire law enforcement authority has seized EUR 70,000 placed in the illicit gambling ac...

    FCIU Uncovers Money Laundering Patterns Through Social Media Scams Explore More

    News

    EU Regulators Say Crypto Exchange Licenses Should be Revoked for Money Laundering

    EU regulators have proposed that the licenses of crypto exchanges should be revoked in case of se...

    EU Regulators Say Crypto Exchange Licenses Should be Revoked for Money Laundering Explore More

    News

    Lake County Attorney Launches a Financial Crimes Unit to Combat Fraud

    Lake County state’s attorney announced a new Financial Crimes Unit to deal with money laundering,...

    Lake County Attorney Launches a Financial Crimes Unit to Combat Fraud Explore More

    News

    American Gaming Association Updates Best Practices for AML

    The American Gaming Association (AGA) has released updated “Best Practices for Anti-Money Launder...

    American Gaming Association Updates Best Practices for AML Explore More

    News

    Atomic Wallet Hack Results in $35 Million Loss as Investigation Continues

    Atomic Wallet users have reported losing millions of dollars worth of cryptocurrency. It was anno...

    Atomic Wallet Hack Results in $35 Million Loss as Investigation Continues Explore More

    News

    Singapore sees 300% yearly spike in Q1 cryptojacking attacks amid Coronavirus

    Data published by Russian cybersecurity firm Kaspersky depicts that Singapore has witnessed a sud...

    Singapore sees 300% yearly spike in Q1 cryptojacking attacks amid Coronavirus Explore More

    News

    UK’s Victoria Gate Casino Fined $613K over AML Failings

    The Source of funds for 10 customers were left unidentified by UK’s Victoria Gate Casino, resulti...

    UK’s Victoria Gate Casino Fined $613K over AML Failings Explore More

    News

    Largest Banking Cooperation in Columbia Busted for Violating Anti-money Laundering Regulations

    Banco de Occidente, Columbia’s largest banking cooperation Grupo Aval owned by one of the richest...

    Largest  Banking Cooperation in Columbia Busted for Violating Anti-money Laundering Regulations Explore More

    News

    Brazilian Police Confiscates $33 M in Crypto Money Laundering Probe

    Brazilian authorities have seized R$172 million from an investigation carried out into money laun...

    Brazilian Police Confiscates $33 M in Crypto Money Laundering Probe Explore More

    News

    Kansas Reports Highest Number of Identity Theft Cases in 2020

    New research conducted reveals that Kansas State has been ranked at number one for having the mos...

    Kansas Reports Highest Number of Identity Theft Cases in 2020 Explore More

    News

    Shufti Nominated for Yalla Fintech 2020 Award

    Shufti, an identity verification service provider offering KYC verification and AML screening...

    Shufti Nominated for Yalla Fintech 2020 Award Explore More

    News

    1.6M Unemployment Claim Filers Exposed Due to Data Breach

    The Washington State Auditor’s Office has investigated an incident that has exposed the personal ...

    1.6M Unemployment Claim Filers Exposed  Due to Data Breach Explore More

    News

    Rabobank’s Profits Drop Over Shut Down in Russia and Increased AML Costs

    Dutch Cooperative Rabobank revealed that its profit plunged more than a quarter in the first half...

    Rabobank’s Profits Drop Over Shut Down in Russia and Increased AML Costs Explore More

    News

    Combating COVID-19: Dubai warns of $10 million loan scheme fraud

    A recent scam has emerged in Dubai which involves a $10 million loan for young entrepreneurs and ...

    Combating COVID-19: Dubai warns of $10 million loan scheme fraud Explore More

    News

    Study Reveals Alabama to be the Center for Identity Theft and Fraud

    According to the latest study, Alabama has become the state with one of the highest rates of iden...

    Study Reveals Alabama to be the Center for Identity Theft and Fraud Explore More

    News

    UAE Imposes Strict Penalties for AML and CFT Failings

    The UAE is set to be removed from the FATF’s Gray List in the upcoming year as it substantially i...

    UAE Imposes Strict Penalties for AML and CFT Failings Explore More

    News

    US Department Of Justice Announces Enforcement Actions to Regulate Cryptocurrency

    The US Department of Justice (DOJ) announced several enforcement actions against cryptocurrency a...

    US Department Of Justice Announces Enforcement Actions to Regulate Cryptocurrency Explore More

    News

    Singapore Central Bank to Utilize AI Technology to Combat Money Laundering

    The Monetary Authority Singapore (MAS) seeks to utilise AI technology to bolster the security of ...

    Singapore Central Bank to Utilize AI Technology to Combat Money Laundering Explore More

    News

    AML Council to Impose Sanctions on Property Dealers for Non-compliance

    The Philippines’s Anti-Money Laundering Council (AMLC) is all set to impose sanctions and fines o...

    AML Council to Impose Sanctions on Property Dealers for Non-compliance Explore More

    News

    Swedish Bank SEB Accused of Money Laundering

    Investigations done by the news agency TT and broadcaster SVT revealed that 25 SEB clients record...

    Swedish Bank SEB Accused of Money Laundering Explore More

    News

    Libra taps another former FinCEN official as general counsel

    Robert Werner, former director of FinCEN and OFAC regulatory authorities, has recently joined the...

    Libra taps another former FinCEN official as general counsel Explore More

    News

    Saudi Arabia Takes New Measures to Tackle Financial Crime

    Saudi Authorities have approved a new legislative measure designed to enhance their efforts in fi...

    Saudi Arabia Takes New Measures to Tackle Financial Crime Explore More

    News

    Ireland Mandates Registration of Crypto Firms Under AML Laws

    Ireland has taken new measures to regulate crypto businesses under the AML law for the first time...

    Ireland Mandates Registration of Crypto Firms Under AML Laws Explore More

    News

    The UAE Hosts the Egmont Plenary to Promote Global Anti-Money Laundering Efforts

    The UAE Financial Intelligence Unit is hosting this year’s Egmont Plenary event, which is e...

    The UAE Hosts the Egmont Plenary to Promote Global Anti-Money Laundering Efforts Explore More

    News

    The US Treasury Department OFAC Enforces Whistleblower Programmes

    According to the US Treasury’s Department Office of Foreign Assets Control (OFAC), companies must...

    The US Treasury Department OFAC Enforces Whistleblower Programmes Explore More

    News

    Singapore replaces passwords and ID documents with facial recognition systems

    As reported by Strait Times, Singapore plans to replace passwords and identity documents with bio...

    Singapore replaces passwords and ID documents with facial recognition systems Explore More

    News

    ‘Money Laundering risk is higher in banks in Mexico than crypto firms’, says FIU report

    According to the new report generated by the country’s financial intelligence unit (FIU), the ban...

    ‘Money Laundering risk is higher in banks in Mexico than crypto firms’, says FIU report Explore More

    News

    United States Senate, UAE Government, and Spain Make Significant Efforts to Curb Money Laundering and Terrorist Financing Activities

    United States Senate, UAE Government, and Spain Take effective measures to amend current Anti-Mon...

    United States Senate, UAE Government, and Spain Make Significant Efforts to Curb Money Laundering and Terrorist Financing Activities Explore More

    News

    Visa, Mastercard Face FTC Inquiry Over Debit Card Transactions

    Visa Inc. and Mastercard Inc. are once again facing inquiries by the Federal Trade Commission ove...

    Visa, Mastercard Face FTC Inquiry Over Debit Card Transactions Explore More

    News

    AUSTRAC to Audit Three Bell Financial Group Entities to Evaluate AML/CFT Compliance

    AUSTRAC has called for the audit of three entities under the Bell Financial Group, including Bell...

    AUSTRAC to Audit Three Bell Financial Group Entities to Evaluate AML/CFT Compliance Explore More

    News

    European Commission Lists Online Gambling a High-Risk Sector for Money Laundering

    The European Commission has listed online gambling as a high-risk avenue for money laundering aft...

    European Commission Lists Online Gambling a High-Risk Sector for Money Laundering Explore More

    News

    Latvia Struggles with Flow of Illicit Money Despite Regulatory Crackdown

    Latvia continues to face illicit financial flow despite the regulatory crackdown that shut down t...

    Latvia Struggles with Flow of Illicit Money Despite Regulatory Crackdown Explore More

    News

    Hong Kong Police Arrests 19 Criminals and Halts a US $40.5M Money-Laundering Operation

    Hong Kong Police arrested 19 syndicate members pertaining to money laundering operations, involve...

    Hong Kong Police Arrests 19 Criminals and Halts a US $40.5M Money-Laundering Operation Explore More

    News

    FinCEN Wants Banks to Submit SARs to Affiliates Under AML Act 2021

    FinCEN proposed a new rule that will allow banks to share suspicious activity reports with foreig...

    FinCEN Wants Banks to Submit SARs to Affiliates Under AML Act 2021 Explore More

    News

    Customers warned of scams by the UK banking lobby amid COVID-19

    Banking customers should be aware of fraudsters who are exploiting the COVID-19 epidemic to carry...

    Customers warned of scams by the UK banking lobby amid COVID-19 Explore More

    News

    European Banking Authority Publishes Final Guidelines on Remote Customer Onboarding

    The European Banking Authority (EBA) has issued its final policies on remote customer onboarding ...

    European Banking Authority Publishes Final Guidelines on Remote Customer Onboarding 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