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

    18.97.14.90

    SEC Ramps Up Efforts to Tackle Identity Theft in the Captial Market

    sec ramps

    The Securities and Exchange Commission (SEC) has noted that the Identity Management System will double up its efforts to tackle identity thefts in the capital market.

    The Identity Management System (IMS), developed by the capital market, will tackle the persisting issue of identity thefts while allowing some way for scalability as per the advancement of technology, as stated by Mr Lamido Yuguda the Director General of the Securities and Exchange Commission (SEC). 

    While showing satisfaction towards the work of the Commission so far, Yuguda said the Commission is currently engaging with relevant stakeholders to resolve the identity theft issues to tackle the problem of dividends. It will begin in earnest to ensure the success of the project. 

    The SEC DG thanked the members of the Committee for providing their support to the project. He further showed assurance that the success of the project will help in building a great Nigeria and impact unborn generations.

    The Chairman of the Committee, Mr Aigboje Aig-Imoukhuede, comments that the Committee’s work had unveiled the need for uniformity in the Nigerian Capital Market. He further added that the SEC could support the Committee to formulate the framework for the Nigerian Capital Market. 

    Mr Aig-Imoukhuede released a statement, “The Committee had clearly defined the task ahead in a Road Map and also identified that the Project would be carried out in stages supported by a consultant with recourse to the SEC on a regular basis. The Committee is committed to ensuring that the customer journey for investors is such that would cause a revolution in the Nigerian capital market, thereby making our market attractive to the tech-savvy and younger generation”.

    The Committee of the Identity Management for Captial Market was commenced by the SEC on June 30, 2021. According to this, enhanced participation from both domestic and foreign investors is needed to fix the prolonged issue of unclaimed dividends. 

    Suggested Read: Identity Theft Pushed to New Records with Buy-Now-Pay-Later Boom in Australia

    Related Posts

    News

    Personal Privacy Concerns Raised over FinCEN’s Proposed Crypto Rules

    The advocacy group in their latest comment has disregarded the proposed regulatory requirements b...

    Personal Privacy Concerns Raised over FinCEN’s Proposed Crypto Rules Explore More

    News

    Pokies are Safe Havens for Criminals to Clean Dirty Money – Says NSW Crime Commission

    According to findings of a multi-agency investigation released by the NSW Crime Commission, pubs ...

    Pokies are Safe Havens for Criminals to Clean Dirty Money – Says NSW Crime Commission Explore More

    News

    MAS Imposed a Fine of $375,000 on UOB Kay Hian For Business Conduct Compliance Failures

    The Monetary Authority of Singapore (MAS) imposed a fine of S$375,000 on UOB Kay Hian, a brokerag...

    MAS Imposed a Fine of $375,000 on UOB Kay Hian For Business Conduct Compliance Failures 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

    China Announces Anti-foreign Sanctions Law

    Under the new law, China has introduced countermeasures against senior managers and actual contro...

    China Announces Anti-foreign Sanctions Law Explore More

    News

    EU to Introduce Uniform Legal Framework for Crypto Assets

    The EU is negotiating on new rules for introducing a uniform legal framework for crypto assets wi...

    EU to Introduce Uniform Legal Framework for Crypto Assets Explore More

    News

    UAE Imposes Dh65 Million Worth of AML Fines on 137 Companies

    After examining 840 companies, 137 companies failed to comply with anti-money laundering and comb...

    UAE Imposes Dh65 Million Worth of AML Fines on 137 Companies Explore More

    News

    MP Calls in For UK’s Defences in Opposition to “Dirty Money” Overrun

    The cross-party group of MP declares UK defences in becoming the “jurisdiction of choice for dirt...

    MP Calls in For UK’s Defences in Opposition to “Dirty Money” Overrun Explore More

    News

    Singapore Scammers Launder Money Through Online Gambling

    Singapore police seized US $736 million worth of cryptocurrencies and virtual assets from money l...

    Singapore Scammers Launder Money Through Online Gambling Explore More

    News

    HKMA Fines Cathay United Bank’s Hong Kong Branch with HK$11m

    HKMA investigated CUBHK for violating the Anti-Money Laundering and Counter-Terrorist Financing O...

    HKMA Fines Cathay United Bank’s Hong Kong Branch with HK$11m Explore More

    News

    $9.8 Million Lost, 40 Arrested in Twitch Money Laundering Scheme

    On Tuesday, 4th January, Turkish police took 40 suspects into custody from 11 provinces for alleg...

    $9.8 Million Lost, 40 Arrested in Twitch Money Laundering Scheme Explore More

    News

    UK Regulators Obligates Crypto Firms to Submit Financial Crime Report

    The UK’s financial watchdog, Financial Conduct Authority (FCA) has expanded financial regulations...

    UK Regulators Obligates Crypto Firms to Submit Financial Crime Report Explore More

    News

    U.K Accelerates New Plans to Crack Down on Foreign Money Laundering Activities

    The U.K plans to crack down on money laundering activities, legislate new laws to register foreig...

    U.K Accelerates New Plans to Crack Down on Foreign Money Laundering Activities 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

    German Watchdog Extends N26 Measures to Prevent Money Laundering

    BaFin, the German financial regulator, stated on July 17th, that it was extending its measures to...

    German Watchdog Extends N26 Measures to Prevent Money Laundering Explore More

    News

    The UK’s Financial Services Minister States Banks Should Not Close Accounts Based on Political Views of Their Customers

    The financial services minister, Andrew Griffith, commented on July 4th that banks should be requ...

    The UK’s Financial Services Minister States Banks Should Not Close Accounts Based on Political Views of Their Customers Explore More

    News

    EU Fines Hungary for Declining to Lift Restrictions on Foreign Funded NGOs

    European Union, in Brussels, took an important step to penalize Hungary for not lifting restricti...

    EU Fines Hungary for Declining to Lift Restrictions on Foreign Funded NGOs Explore More

    News

    Danske Bank Expecting Huge Profit Rebound as Money Laundering Case Ends

    Danske Bank expects a massive rebound in earnings this year, 2023, after the closure of the money...

    Danske Bank Expecting Huge Profit Rebound as Money Laundering Case Ends Explore More

    News

    CBA Fails to Disclose AML Non-Compliance to Investors, A Court Hears

    A court has heard that the CBA should have informed the market that it may have engaged in “law-b...

    CBA Fails to Disclose AML Non-Compliance to Investors, A Court Hears Explore More

    News

    London’s Bank Sees Rise in Crypto Scams Supposedly Backed By Celebrities

    An alarming surge in reports on crypto scams backed by celebrities is being seen by a major finan...

    London’s Bank Sees Rise in Crypto Scams Supposedly Backed By Celebrities Explore More

    News

    Sri Lankan Regulatory Authorities Enforce AML/CFT Measures to Avoid FATF Grey and Black List

    The Financial Action Task Force (FATF) started cracking down on Sri Lanka’s financial institutes ...

    Sri Lankan Regulatory Authorities Enforce AML/CFT Measures to Avoid FATF Grey and Black List Explore More

    News

    Biden’s Administration Announces New Timeline for AML Initiative and Beneficial Ownership Rules

    FACT’s anti-money laundering efforts are updated in the Biden Administration’s Spring 2023 Regula...

    Biden’s Administration Announces New Timeline for AML Initiative and Beneficial Ownership Rules Explore More

    News

    Malta Faces 200% Spike in Money Laundering Cases

    Financial Intelligence Analysis Unit (FIAU), Malta’s financial regulator, received a 200% increas...

    Malta Faces 200% Spike in Money Laundering Cases Explore More

    News

    Russian Government to Fight Cybercrimes for Digital Economy

    A report by TASS news agency states that the Russian government plans to develop a center to figh...

    Russian Government to Fight Cybercrimes for Digital Economy Explore More

    News

    Canada Seeks to Digitize ID-Documents for Enhanced Security Measures

    Canada, Ontario’s government is working towards digitizing the identity documents and seeks publi...

    Canada Seeks to Digitize ID-Documents for Enhanced Security Measures Explore More

    News

    FATF Withdraws Switzerland From AML Enhanced Measures List

    The Financial Action Task Force (FATF) removed Switzerland from the enhanced money-laundering com...

    FATF Withdraws Switzerland From AML Enhanced Measures List Explore More

    News

    The number of Bitcoin ATMs has increased to 8,000

    The total number of Bitcoin ATMs across the world have crossed 8,000. The United States has more...

    The number of Bitcoin ATMs has increased to 8,000 Explore More

    News

    “We Reaffirm Our Full Support for FATF’s Efforts Against Financial Crime” – G20 Leaders

    According to the Rome Declaration, G-20 leaders ensure full support to back FATF recommendations ...

    “We Reaffirm Our Full Support for FATF’s Efforts Against Financial Crime” – G20 Leaders Explore More

    News

    Investment platforms on target of Criminals to Launder Stolen COVID Relief funds

    Sophisticated fraudsters with expert knowledge in tech are stealing the COVID-19 relief funds fro...

    Investment platforms on target of Criminals to Launder Stolen COVID Relief funds Explore More

    News

    Chinese Bank trials the test interface for PBoC’s Digital Currency

    One of China’s largest state-owned banks, the Agricultural Bank of China (ABC) is testing a new i...

    Chinese Bank trials the test interface for PBoC’s Digital Currency Explore More

    News

    Australian Police Launch Avarus, a Multi-task Force to fight Money Laundering

    Australian Federal Police has set up a new multi-agency task force to fight prevailing financial ...

    Australian Police Launch Avarus, a Multi-task Force to fight Money Laundering Explore More

    News

    FATF meeting scheduled to discuss VASPs compliance

    The Financial Action Task Force (FATF) has scheduled a plenary meeting on June 24 to monitor the ...

    FATF meeting scheduled to discuss VASPs compliance Explore More

    News

    Namibia Launches Cyber Security Council to Curb e-Fraud

    Namibia has established a cyber security council that would act as a useful forum for discussions...

    Namibia Launches Cyber Security Council to Curb e-Fraud Explore More

    News

    Ransomware gang failed to deploy an attack against 30 US firms

    A ransomware attack was blocked by a group by the Cybersecurity firm Symantec known for demanding...

    Ransomware gang failed to deploy an attack against 30 US firms Explore More

    News

    Scammers and Hackers Use Cloud Mining to Launder Cryptocurrencies

    According to new research, the use of cloud mining methods to conceal crypto funds has intensifie...

    Scammers and Hackers Use Cloud Mining to Launder Cryptocurrencies Explore More

    News

    Failure to Join FATF Will Increase Economic Pressure

    According to a top diplomat, Iran’s refusal to comply with the requirements of the Financial Acti...

    Failure to Join FATF Will Increase Economic Pressure Explore More

    News

    FCA Issues Warning About 100+ Unregistered Crypto-asset Firms

    111 unregistered crypto-asset firms are operating from the UK. FCA warns consumers, banks, and pa...

    FCA Issues Warning About 100+ Unregistered Crypto-asset Firms 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

    World economic forum considers using blockchain to solve supply chain crisis

    The World Economic Forum (WEF) stated on Monday that blockchain and digitization can help supply ...

    World economic forum considers using blockchain to solve supply chain crisis Explore More

    News

    UAE Firms Must Disclose UBO’s to Avoid Dirty Money Watch List

    500,000+ firms in the UAE (United Arab Emirates) face disclosure of their Ultimate Beneficial Own...

    UAE Firms Must Disclose UBO’s to Avoid Dirty Money Watch List Explore More

    News

    ID Theft to Drive Majority of the Online Payment Frauds in 2021

    Online payment fraud losses will exceed $206 billion over the next few years and the majority of ...

    ID Theft to Drive Majority of the Online Payment Frauds in 2021 Explore More

    News

    Two Bank Workers Banned by Central Bank in the Philippines for Wirecard Fraud

    Two bank workers, involved in issuing fake documents, have been banned by the Central Bank. The a...

    Two Bank Workers Banned by Central Bank in the Philippines for Wirecard Fraud Explore More

    News

    IMF Seeks Tighter Checks on Kenyan Banks Amid Money Laundering Concerns

    The International Monetary Fund (IMF) is tightening the checks to prevent money laundering and wa...

    IMF Seeks Tighter Checks on Kenyan Banks Amid Money Laundering Concerns Explore More

    News

    Archipelago Trading Fined $1.5 Million for SAR and AML Failings

    The US Security and Exchange Commission (SEC) fined the Archipelago Trading company over the shor...

    Archipelago Trading Fined $1.5 Million for SAR and AML Failings Explore More

    News

    Sam Bankman-Fried Charged with Fraud and Money Laundering, Makes Headlines Again

    A federal indictment accusing FTX Co-Founder Sam Bankman-Fried of committing widespread fraud has...

    Sam Bankman-Fried Charged with Fraud and Money Laundering, Makes Headlines Again Explore More

    News

    24 scammers arrested on money laundering charges

    Government officials have arrested over 24 money laundering suspects due to an online fraud opera...

    24 scammers arrested on money laundering charges Explore More

    News

    With Rising Fintech Adoption, FI’s are Investing in AI for AML Compliance: Report

    Reduced rates of false positives and the resulting decline in operational costs have caused an in...

    With Rising Fintech Adoption, FI’s are Investing in AI for AML Compliance: Report Explore More

    News

    Giaba Trains BDC Operators for Money Laundering & Terrorist Financing

    GIABA (Inter-Governmental Action Group against Money Laundering in West Africa) has started a thr...

    Giaba Trains BDC Operators for Money Laundering & Terrorist Financing Explore More

    News

    Guyana Joins Sister Caribbean Countries to Stop Money Laundering

    “Guyana has joined the Caribbean network to counter money laundering and introduced a global fina...

    Guyana Joins Sister Caribbean Countries to Stop Money Laundering Explore More

    News

    Germany to Form a new Anti-Money Laundering Agency

    Germany is reportedly forming a new AML agency that aims to regulate sanction efforts and money l...

    Germany to Form a new Anti-Money Laundering Agency Explore More

    News

    Payment Companies Suggest Best Practices To Stay Away From Bank Shutouts

    Payment companies have proposed a set of best practices to avoid bank shutouts by protecting the ...

    Payment Companies Suggest Best Practices To Stay Away From Bank Shutouts Explore More

    News

    $6.1 Million Seized As US Treasury Sanctions Another Crypto Exchange

    The US Department of the Treasury has sanctioned Chatex crypto exchange “for facilitating financi...

    $6.1 Million Seized As US Treasury Sanctions Another Crypto Exchange Explore More

    News

    SRA Receives Fewer AML Violation Reports from England & Wales Despite Sanctions Drive

    Anti Money Laundering (AML) violations in England & Wales reported to the Solicitors Regulati...

    SRA Receives Fewer AML Violation Reports from England & Wales Despite Sanctions Drive Explore More

    News

    The State Bank of Vietnam Demands More Freedom and Power to be Granted to the Anti-Money Laundering Bureau

    The State Bank of Vietnam (SBV) requested the government to enhance security by providing more fr...

    The State Bank of Vietnam Demands More Freedom and Power to be Granted to the  Anti-Money Laundering Bureau Explore More

    News

    Large Korean bank to pay a huge fine for violating AML law

    NEW YORK, April 20 (Reuters) – Industrial Bank of Korea 024110.KS, one of South Korea’...

    Large Korean bank to pay a huge fine for violating AML law Explore More

    News

    US Financial Committee to Investigate Crypto to Combat Terrorist Financing

    The US House of Financial Service Committee (FSC)  is set to conduct an in-depth investigation of...

    US Financial Committee to Investigate Crypto to Combat Terrorist Financing Explore More

    News

    EU Freezes $130 Million Worth of Assets Linked to Money Laundering in Lebanon

    France, Germany, and Luxembourg have seized the properties and frozen assets worth $130 million l...

    EU Freezes $130 Million Worth of Assets Linked to Money Laundering in Lebanon Explore More

    News

    Mimecast reports a 26.3% increase in spams and opportunist cybercrimes during the first 100 days of COVID-19

    With the current pandemic going on, cybercriminals are taking advantage of the situation escalati...

    Mimecast reports a 26.3% increase in spams and opportunist cybercrimes during the first 100 days of COVID-19 Explore More

    News

    Namibia Enhances its National Crypto Strategy with New Legislation

    Namibia raises the bar with new legislation in the National Crypto Strategy to combat crypto scam...

    Namibia Enhances its National Crypto Strategy with New Legislation Explore More

    News

    CBN Introduces Guidelines to Curb Money Laundering in the Financial Sector

    The Central Bank of Nigeria (CBN) has issued guidelines on anti-money laundering and combating th...

    CBN Introduces Guidelines to Curb Money Laundering in the Financial Sector Explore More

    News

    FATF issues new guidance on Digital Identity systems

    A guidance paper has been issued by the Financial Action Task Force (FATF) to assist governments,...

    FATF issues new guidance on Digital Identity systems 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

    Online fraud attempts increase during COVID-19 catastrophe

    According to ACI Worldwide, the rate of fraud attempts have increased to 4.3% in April, slightly ...

    Online fraud attempts increase during COVID-19 catastrophe Explore More

    News

    New Zealand Encounters Spike in Online Identity Theft

    Recent research of New Zealand’s financial market has shown a spike of 86 percent in identity fra...

    New Zealand Encounters Spike in Online Identity Theft Explore More

    News

    AMLC Demands Rigid Security Measures for Non-Compliant Businesses in the Philippines

    The Anti-Money Laundering Council (AMLC) is pushing for more strict due diligence measures on del...

    AMLC Demands Rigid Security Measures for Non-Compliant Businesses in the Philippines Explore More

    News

    New RBI Guideline: Must Perform Due Diligence for Crypto Transactions

    In the latest banking news in India, notable banks were found to have cautioned their customers a...

    New RBI Guideline: Must Perform Due Diligence for Crypto Transactions Explore More

    News

    Crown Casinos Fined $450 Million for AML Failures

    Casino operator Crown should pay a fine of $450 million for 546 violations of anti-money launderi...

    Crown Casinos Fined $450 Million for AML Failures Explore More

    News

    Ontario Labeled ‘Highly Vulnerable’ to Money Laundering Activities in Cullen Report

    The Canadian gambling sector is on its toes after Commissioner Austin Cullen’s report revealed in...

    Ontario Labeled ‘Highly Vulnerable’ to Money Laundering Activities in Cullen Report Explore More

    News

    Malta’s Justice Minister Ammends Legal Framework to Lighten Financial Crime Proceedings

    Malta’s Justice Minister announces amendments in the court proceedings for financial crimes...

    Malta’s Justice Minister Ammends Legal Framework to Lighten Financial Crime Proceedings Explore More

    News

    “Money Mule Crimes Double in Cork, Students are an Easy Target”, Says the Police

    According to police investigations, the number of money mule activities in Cork city has doubled ...

    “Money Mule Crimes Double in Cork, Students are an Easy Target”, Says the Police Explore More

    News

    UAE Central Bank Imposes Financial Sanctions on Six Banks for CDD Failures

    Six banks in the UAE have been issued financial sanctions by the UAE Central Bank for not complyi...

    UAE Central Bank Imposes Financial Sanctions on Six Banks for CDD Failures Explore More

    News

    Digital Currency ‘Sand Dollar’ Launched by the Bahamas

    The Central Bank of the Bahamas (CBOB) has introduced a digital version of the Bahamian dollar, s...

    Digital Currency ‘Sand Dollar’ Launched by the Bahamas 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