The Top 10  Most Difficult Countries for Identity Verification

The Top 10  Most Difficult Countries for Identity Verification

Download Report

The UK’s largest mobile operator EE has announced its Digital Identity platform

the uks largest

EE, the UK’s largest mobile operator has announced its new Digital Identity platform to protect customers from falling victims to fraud. 

Through a series of checks, the platform seamlessly verifies a customer’s identity in real time. This helps to prevent identity theft and fraudulent activities. Fraud losses to the telecom industry were estimated to be over $28.3 billion in 2019. False identities are often used to set up accounts, subscription or identity fraud represents 35% of all fraud undergone by the telecoms industry. So it’s the time the telecom industry needs to address frauds like sim swap that are increasing with every passing day.

A common type of criminal activity that EE tackles with the Digital Identity platform is SIM swap fraud which is an account takeover where a customer’s phone number is transferred without the account holder’s knowledge. A fraudster can have unauthorized access to online accounts and can intercept messages or calls to the phone number.

Digital Identity ‘SIM Swap’ checker allows businesses to know when a customer’s SIM was last changed, as a recent change could indicate potential fraud. This information is then used to stop financial transactions until further identity checks are carried out.

Related Posts

News

Argentina Proposes VASP Registry as Part of Updated AML Law

Argentina is preparing to update its AML and CTF law and has proposed to include a registry for v...

Argentina Proposes VASP Registry as Part of Updated AML Law Explore More

News

Officials Concerned about the Russian Money Laundering Done Through the UK

The top officials in the UK have shown their concerns about the disturbing regularity of the Russ...

Officials Concerned about the Russian Money Laundering Done Through the UK Explore More

News

Another COVID-related lure: Phishing Scam Targeting Email Users

Amid the COVID-19 outbreak, email users are constantly warned against fraudulent emails and scams...

Another COVID-related lure: Phishing Scam Targeting Email Users Explore More

News

El Salvador Must Address Bitcoin’s Risks, Demands IMF

The IMF has urged El Salvador to address the risk associated with the adoption of bitcoin as a le...

El Salvador Must Address Bitcoin’s Risks, Demands IMF Explore More

News

AUSTRAC Throws in Hands in their Fight Against Money Laundering through Casino Junk Operators

Australian regulatory bodies to fight financial crimes have known for quite a time that casino ju...

AUSTRAC Throws in Hands in their Fight Against Money Laundering through Casino Junk Operators Explore More

News

New York Files Lawsuit Against Juul Following California and North Carolina

New York state is joining California and North Carolina in suing e-cigarette company, Juul, on th...

New York Files Lawsuit Against Juul Following California and North Carolina Explore More

News

Fake NFT Sold for £244k from Artist “Banksy’s” Website

A fake link directed bidders to an online auction for Banksy’s NFT, which was posted on the now-d...

Fake NFT Sold for £244k from Artist “Banksy’s” Website 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

FinCEN Fines Puerto Rican Bank, Bancrédito, $15 Million on BSA Violation

Puerto Rican bank, Bancrédito, was fined $15 million by the Financial Crimes Enforcement Network ...

FinCEN Fines Puerto Rican Bank, Bancrédito, $15 Million on BSA Violation Explore More

News

SEC Partners with Government Agencies and Philippines Police to Combat Money Laundering

The SEC signed a data-sharing agreement with the Philippines police and other government agencies...

SEC Partners with Government Agencies and Philippines Police to Combat Money Laundering Explore More

News

Central Bank of Morocco to Introduce a Comprehensive Crypto Regulation Bill

Morocco’s Central Bank is drafting a set of comprehensive cryptocurrency laws as the digital asse...

Central Bank of Morocco to Introduce a Comprehensive Crypto Regulation Bill Explore More

News

German Parliament Passes Anti-Money Laundering Laws

On Thursday, the German parliament passed a draft of anti-money laundering measures to make sure ...

German Parliament Passes Anti-Money Laundering Laws Explore More

News

Nigeria’s Senate Passes Bill to Tighten Money Laundering Rules

Nigeria’s Senate has passed a bill that is aimed at improving the country’s money laundering regu...

Nigeria’s Senate Passes Bill to Tighten Money Laundering Rules Explore More

News

ChatBooks notifies users of the data breach after data sold on the dark web

ChatBooks has recently disclosed the data breach following a cyber attack on its system that resu...

ChatBooks notifies users of the data breach after data sold on the dark web Explore More

News

Central Bank of UAE Issues Updated Guidance For Licensed Financial Institutions

CBUAE issues updated guidance for licenced financial institutions on growing risks of money laund...

Central Bank of UAE Issues Updated Guidance For Licensed Financial Institutions Explore More

News

Mauritius to Step Out of FATF Gray List Following Key Regulatory Changes

Mauritius, which was previously known for being a tax haven, might be out of the FATF’s grey list...

Mauritius to Step Out of FATF Gray List Following Key Regulatory Changes Explore More

News

FinCEN Proposes the Designation of Eligible Customers as Exempt Person

As a part of the Paperwork Reduction Act of 1995, the Financial Crime Enforcement Network (FinCEN...

FinCEN Proposes the Designation of Eligible Customers as Exempt Person Explore More

News

China Raises Penalty, Broadens Scope of AML Laws

The People’s Bank of China (PBOC) has published a revised draft for the country’s AML law which e...

China Raises Penalty, Broadens Scope of AML Laws 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

FINMA Penalizes Swiss Bank over Money Laundering of $78 Million

The Swiss regulatory authority, FINMA, initiated a lawsuit against the senior management at Juliu...

FINMA Penalizes Swiss Bank over Money Laundering of $78 Million Explore More

News

Banks take measures to serve customers amid COVID-19

The banking industry is stepping up to serve customers as well as their employees as the Coronavi...

Banks take measures to serve customers amid COVID-19 Explore More

News

The SEC Uncovers a Pyramid Scheme and Charges Multiple Individuals

The U.S. regulatory authority SEC uncovered a crypto pyramid scheme that stole approximately US$2...

The SEC Uncovers a Pyramid Scheme and Charges Multiple Individuals Explore More

News

Legal Challenges Against TikTok for Breaching Child Privacy Policy

TikTok, the most trending social media application in the present times is facing legal actions f...

Legal Challenges Against TikTok for Breaching Child Privacy Policy Explore More

News

US Rated as The Most Secretive Financial Jurisdiction in the World

The US has been ranked the most secretive financial jurisdiction in the world due to deterioratio...

US Rated as The Most Secretive Financial Jurisdiction in the World Explore More

News

AML investigation results in NZ police freezing $140 million

Police have collected $140 million from the Canton Business Corporation and its owner Alexander V...

AML investigation results in NZ police freezing $140 million Explore More

News

US Banking Regulator Advises Federal Licensing Framework for Crypto Firms

Brian Brooks, Chief Operating Officer of the U.S. Office of the Comptroller of the Currency (OCC)...

US Banking Regulator Advises Federal Licensing Framework for Crypto Firms Explore More

News

FATF Removes Cayman Islands and Panama From Increased AML Monitoring List

In the last plenary meeting of the Financial Action Task Force (FATF) on October 27th, the Cayman...

FATF Removes Cayman Islands and Panama From Increased AML Monitoring List Explore More

News

Swedish gambling regulator seeks high money-laundering fines

The Swedish Gambling Authority (SGA) has taken a tough stance against money laundering and reques...

Swedish gambling regulator seeks high money-laundering fines Explore More

News

FATF Urges Member Countries To Lead by Example in Implementing Travel Rule

The global financial watchdog FATF has urged countries to implement the travel rule in the legisl...

FATF Urges Member Countries To Lead by Example in Implementing Travel Rule Explore More

News

Court Filing Reveals that Hundreds of Roblox users Are Laundering Money Using In-Game Currency

Roblox, one of the popular video game platforms having over 58 million users, is being used to la...

Court Filing Reveals that Hundreds of Roblox users Are Laundering Money Using In-Game Currency Explore More

News

UAE Regulatory Authority Enforces Import Invoice Verification to Fight Trade-Based Money Laundering

United Arab Emirates (UAE) has implemented the latest compliance regulations for importing commod...

UAE Regulatory Authority Enforces Import Invoice Verification to Fight Trade-Based Money Laundering Explore More

News

UK Treasury Committee Launches Inquiry into the Role of Crypto Assets and the Associated Risks

The Treasury Committee of the UK’s House of Commons has urged the public to submit their take and...

UK Treasury Committee Launches Inquiry into the Role of Crypto Assets and the Associated Risks Explore More

News

After China, Japanese Officials Considering to Introduce Digital Currency too

China has begun trials for its digital assets and issued 10 million yuan last week. The efforts o...

After China, Japanese Officials Considering to Introduce Digital Currency too Explore More

News

Bank of Ireland Warns Customers of Rise in Phone Call and Text Scams

Bank of Ireland has warned clients of a surge in phone calls and text message scams. As per the f...

Bank of Ireland Warns Customers of Rise in Phone Call and Text Scams Explore More

News

UAE banking sector unites with law enforcement agencies to tackle fraud

Dubai: UAE’s first national fraud awareness campaign has been initiated with the collaboration of...

UAE banking sector unites with law enforcement agencies to tackle fraud Explore More

News

Crypto-Supporting Digital Cards to be Launched Soon in China and Korea

UnionPay, an analogue for Visa and Mastercard service providers, has partnered with Danal, a Kore...

Crypto-Supporting Digital Cards to be Launched Soon in China and Korea Explore More

News

FATF to “Gray List” UAE for AML Failings

The Financial Action Task Force (FATF) is considering adding the United Arab Emirates to its gray...

FATF to “Gray List” UAE for AML Failings Explore More

News

8.3 million users affected in ‘Freepik data breach’

Freepik, a free photo and graphics site, has disclosed a major data breach that affected nearly 8...

8.3 million users affected in ‘Freepik data breach’ Explore More

News

US Regulators to Sharpen AML Expectations For Crypto Sector

The US regulators are increasing the AML compliance expectations within the crypto sector to ensu...

US Regulators to Sharpen AML Expectations For Crypto Sector Explore More

News

$320 Million Worth of Cryptocurrency Stolen in Wormhole Hack

A recent hack on one of the most popular blockchain bridges linking Ethereum and Solana led to th...

$320 Million Worth of Cryptocurrency Stolen in Wormhole Hack Explore More

News

Hong Kong Authorities Warn Unregistered Virtual Assets Platforms May Face Large Fines and Imprisonment

On August 7th, the Hong Kong Securities and Futures Commission (SFC) warned all platforms working...

Hong Kong Authorities Warn Unregistered Virtual Assets Platforms May Face Large Fines and Imprisonment Explore More

News

Bermuda Monetary Authority Tightens AML Control as Threat of Money Laundering Increases

Bermuda Island was rated high in the 2020 Money Laundering and Terrorist Financing Risk Assessmen...

Bermuda Monetary Authority Tightens AML Control as Threat of Money Laundering Increases Explore More

News

Bank of England fines Citigroup £44m Over Poor Financial Information

The Bank of England has fined the UK branch of the US bank, Citigroup, a record £44m because the ...

Bank of England fines Citigroup £44m Over Poor Financial Information Explore More

News

EU Parliament Reaches Provisional Agreement on Extending Rules for Crypto Assets

The Council Presidency has reached a provisional agreement with the EU Parliament regarding the r...

EU Parliament Reaches Provisional Agreement on Extending Rules for Crypto Assets 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

Wellington Real Estate Company Fails to Report Suspicious Activity on Properties

Mills Gibbon and Co, a Wellington-based real estate company, has been warned by the Department of...

Wellington Real Estate Company Fails to Report Suspicious Activity on Properties Explore More

News

France Ranked Among Countries with Effective Measures to Tackle Financial Fraud

The latest FATF report ranks France among countries that have effective measures in combating fin...

France Ranked Among Countries with Effective Measures to Tackle Financial Fraud Explore More

News

Video KYC: The New Normal in the Insurance Industry

Since everything is moving to digital platforms, the Insurance Regulatory and Development Authori...

Video KYC: The New Normal in the Insurance Industry Explore More

News

UAE Banks Asked to Strengthen their AML/CFT Measures

UAE financial institutions and the banks are required to prioritize eliminating money laundering ...

UAE Banks Asked to Strengthen their AML/CFT Measures Explore More

News

Leading MSB Industry Associations Introduce Best Practices For Anti-Money Laundering

The introduction of the best practices for anti-money laundering by leading MSB industry associat...

Leading MSB Industry Associations Introduce Best Practices For Anti-Money Laundering Explore More

News

Chinese Police Seize $124M Money Laundering Scam in Zunyi City

The money laundering gang was able to conceal its fraudulent activities for a while by using 500 ...

Chinese Police Seize $124M Money Laundering Scam in Zunyi City Explore More

News

Pandora Papers Update: Offshore Havens and Money Laundering Scandals Exposed

The Pandora Papers expose 35 world leaders, 300 public officials and 100+ billionaires, thus prov...

Pandora Papers Update: Offshore Havens and Money Laundering Scandals Exposed 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

Botswana Passes New Cryptocurrency Bill, Aiming to Curb Money Laundering

Another African country, Botswana has taken a significant step towards regulating cryptocurrency ...

Botswana Passes New Cryptocurrency Bill, Aiming to Curb Money Laundering Explore More

News

Despite KYC, Dutch Central Bank Struggles over Crypto Ownership Records

Despite the strict measures for KYC requirements, the Central Bank of the Netherlands is still mu...

Despite KYC, Dutch Central Bank Struggles over Crypto Ownership Records Explore More

News

European parliament imposes ban on facial recognition technology

Following a public outcry after the leak of an internal memorandum discussing the utilization of ...

European parliament imposes ban on facial recognition technology 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

UK Convicts 11 Couriers for Conspiring to Launder $124 Million in Cash to Dubai

An investigation conducted by the UK’s National Crime Agency led to the conviction of 11 co...

UK Convicts 11 Couriers for Conspiring to Launder $124 Million in Cash to Dubai Explore More

News

Satabank Penalized with €851,000 for Non-Compliance

Financial Intelligence Analysis Unit (FIAU) on Statabank has decided to fine the bank the sum of ...

Satabank Penalized with €851,000 for Non-Compliance Explore More

News

US Government Looking to Develop Vaccine Passports as Proof of Vaccination

The US government is looking to develop a system that would manage the credentials and verify the...

US Government Looking to Develop Vaccine Passports as Proof of Vaccination Explore More

News

France to Implement Stringent Regulations on Cryptocurrency

France is planning on regulations that abolish the anonymity in cryptocurrency. Financial authori...

France to Implement Stringent Regulations on Cryptocurrency Explore More

News

South African Government Passes Key AML and CFT Laws to Fight Financial Crimes

South African government passes two significant laws to implement Anti Money Laundering and Count...

South African Government Passes Key AML and CFT Laws to Fight Financial Crimes Explore More

News

Singapore Introduces Face Verification for National ID Service

Not just authentication, but facial verification is mandatory for anyone who is using the nationa...

Singapore Introduces Face Verification for National ID Service Explore More

News

Norway’s DNB is Facing a Possible Fine of $45M for Poor AML Compliance

Norway’s leading bank, DNB ASA, faces the possibility of a $45 million penalty for its inadequate...

Norway’s DNB is Facing a Possible Fine of $45M for Poor AML Compliance Explore More

News

The Philippines Introduces Crypto Guidelines Against Financial Crimes

The Philippines Monetary Board (MB) has approved the guidelines regarding the virtual assets serv...

The Philippines Introduces Crypto Guidelines Against Financial Crimes Explore More

News

UK Finance Sector and Police Stopped £32m Fraud in First Half of 2021

The ‘Banking Protocol’ introduced in 2016 has now helped prevent financial fraud worth £174...

UK Finance Sector and Police Stopped £32m Fraud in First Half of 2021 Explore More

News

AMLC Continues to Address AML Deficiencies as per FATF Guidelines

The AMLC has reported continued efforts to address the deficiencies specified by the FATF to tack...

AMLC Continues to Address AML Deficiencies as per FATF Guidelines Explore More

News

FCA Under Pressure for Compliance and Authorisation Delays

The FCA is being approached by regulatory experts due to backlogs in the provision of regulatory ...

FCA Under Pressure for Compliance and Authorisation Delays Explore More

News

Founders of US Crypto Firm Charged with Assisting North Korean Hacking Group in Laundering Money

Two co-founders of the cryptocurrency firm Tornado Cash, Roman Semenov and Roman Storm, were char...

Founders of US Crypto Firm Charged with Assisting North Korean Hacking Group in Laundering Money Explore More

News

FATF Highlights the Gaps in New Zealand’s AML Measures

Financial Action Task Force (FATF) has issued a report on New Zealand’s measures to combat money ...

FATF Highlights the Gaps in New Zealand’s AML Measures Explore More

News

Australian Federal Police to Establish a Cryptocurrency Unit to Combat Money Laundering

AFP rolled out a dedicated crypto unit to combat monetary scams by fraudsters. According to AFP, ...

Australian Federal Police to Establish a Cryptocurrency Unit to Combat Money Laundering Explore More

News

Job Seekers Face Concerns of Identity Theft Through Fake Employment Scams

Fake employment advertisements defrauded many job seekers with theft of money and personal detail...

Job Seekers Face Concerns of Identity Theft Through Fake Employment Scams 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