quora
Read More about fast-id page

Shufti globally launches webinr-icon - a new kind of identity solution!

Shufti globally launches - a new kind of identity solution!

Read more

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

Canada loses millions in online scams

According to CBC News, 6492 incidents of fraud were reported to Edmonton Police last year, result...

Canada loses millions in online scams Explore More

News

AUSTRAC Partners With UK Counterpart to Fight Fraud

The financial intelligence agency has announced AUSTRAC has entered a new partnership with a UK c...

AUSTRAC Partners With UK Counterpart to Fight Fraud Explore More

News

Reserve Bank of Zimbabwe Reveals Most Banks Lose Correspondent Deals Due to AML Non-compliance

The Reserve Bank of Zimbabwe (RBZ) Deputy Governor disclosed that most banks are losing clients d...

Reserve Bank of Zimbabwe Reveals Most Banks Lose Correspondent Deals Due to AML Non-compliance Explore More

News

Digital Payment Providers Collaborate with UBA to Combat Scams in the Financial Sector

The National Payment Systems Services Association has collaborated with Uganda Bankers Associatio...

Digital Payment Providers Collaborate with UBA to Combat Scams in the Financial Sector Explore More

News

Standard Chartered Is Fined $13.6 Million by India’s AML agency

Standard Chartered Bank is fined $13.6 million by India’s anti-money laundering agency for 2007 d...

Standard Chartered Is Fined $13.6 Million by India’s AML agency Explore More

News

Rabobank Fined EUR 500K for Ineffective KYC Compliance

The Dutch Central Bank (DNB) instructed Rabobank to enhance their CDD, transaction monitoring, an...

Rabobank Fined EUR 500K for Ineffective KYC Compliance Explore More

News

Fraudsters exploiting Coronavirus panic have scammed £1.6 million

United Kingdom investigators have reported more than 500 COVID-19 associated scams and over 2,000...

Fraudsters exploiting Coronavirus panic have scammed £1.6 million Explore More

News

UK to Set up CBDC Taskforce to Analyze the Possibility of ‘Britcoin’

The Bank of England along with the British Government plans to set up a task force to create digi...

UK to Set up CBDC Taskforce to Analyze the Possibility of ‘Britcoin’ Explore More

News

Regulatory Authorities to File a New Bill to Secure the Citizens from Cyber Criminal Activities

Senator Estrada filed a bill to protect senior citizens unfamiliar with modern technology from cy...

Regulatory Authorities to File a New Bill to Secure the Citizens from Cyber Criminal Activities Explore More

News

Financial Regulators in Uganda Demands Government to Set Crypto Regulations

Uganda’s financia regulators, Financial Intelligence Authority (FIA), want the government to take...

Financial Regulators in Uganda Demands Government to Set Crypto Regulations 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

Bithumb, Coinone and Korbit Team Up for FATF Travel Rule Compliance

Bithumb, Coinone and Korbit have founded a joint venture to facilitate all efforts for maintainin...

Bithumb, Coinone and Korbit Team Up for FATF Travel Rule Compliance Explore More

News

Officials of 16 Countries Teamed Up for a Major Transnational Operation against Money Laundering

On October 15, Europol announced its successful operation against a renowned criminal group calle...

Officials of 16 Countries Teamed Up for a Major Transnational Operation against Money Laundering Explore More

News

Ransomware attacks three US universities

A ransomware group has successfully stricken three universities within the week. They claim that ...

Ransomware attacks three US universities Explore More

News

Crypto firms Halt Business in China After an Intense Government Crackdown

Cryptocurrency businesses have stopped their operations after the government led an intense inves...

Crypto firms Halt Business in China After an Intense Government Crackdown 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

Binance Expands Footprint in Europe as it Acquires License to Operate in Sweden

The Swedish financial supervisory authority (FSA) allowed Binance to operate in the country, whic...

Binance Expands Footprint in Europe as it Acquires License to Operate in Sweden Explore More

News

European Commission Removes Morocco From High-Risk Money Laundering Watchlist

On Wednesday, the European Commission disclosed that Morocco was no longer listed on its high-ris...

European Commission Removes Morocco From High-Risk Money Laundering Watchlist Explore More

News

TSA to test self-service facial recognition technology in the pilot program

The Transportation Security Administration (TSA) is now testing self-service facial recognition t...

TSA to test self-service facial recognition technology in the pilot program Explore More

News

FCA Fines Gatehouse Bank £1.58mn for Breaching Money Laundering Regulations

The Financial Conduct Authority (FCA) has fined Gatehouse Bank £1.58 million. The regulator disco...

FCA Fines Gatehouse Bank £1.58mn for Breaching Money Laundering Regulations Explore More

News

Feds Bust Columbian Drug Cartel’s Scheme to Launder “Millions” Through US Banks

A Columbian drug cartel’s scheme was busted by the federal prosecutors who moved millions through...

Feds Bust Columbian Drug Cartel’s Scheme to Launder “Millions” Through US Banks Explore More

News

Danske Bank Fined €1.82m Over AML and CTF Breaches

Danske Bank was accused of AML compliance failings and fined €1.82m by the Central Bank, revealin...

Danske Bank Fined €1.82m Over AML and CTF Breaches Explore More

News

FATF Calls for Tighter Regulations to Fill Voids in Virtual Asset Compliance

The Financial Action Task Force (FATF) highlighted a regulatory gap in the compliance system for ...

FATF Calls for Tighter Regulations to Fill Voids in Virtual Asset Compliance Explore More

News

Deutsche Bank Subordinate DWS Fined $25 Million for AML Violations

In the latest enforcement action, the Security Exchange Commission (SEC) has fined $25 million to...

Deutsche Bank Subordinate DWS Fined $25 Million for AML Violations Explore More

News

UK’s Financial Watchdog Goes Real-time to Catch Online Criminals

The FCA is sweeping the internet on a day-to-day basis to pull out cybercriminals, as the number ...

UK’s Financial Watchdog Goes Real-time to Catch Online Criminals 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

FCA Fines Ghana International Bank Over £5 million for Money Laundering Failings

The Financial Conduct Authority (FCA) has imposed a £5,829,900 financial penalty on Ghana Interna...

FCA Fines Ghana International Bank Over £5 million for Money Laundering Failings Explore More

News

Cambodian Minister of Justice Addresses AML Action Plan to Escape FATF’s Gray List

The Minister of Justice Koeut Rith has advised all financial institutions to continue their coope...

Cambodian Minister of Justice Addresses AML  Action Plan to Escape FATF’s Gray List Explore More

News

DC lawyers can now accept crypto for legal fees

According to a report by Bloomberg Law, cryptocurrency can now be used to pay for legal services ...

DC lawyers can now accept crypto for legal fees 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

UK and UAE Take Steps in Joint Efforts to Combat Money Laundering

In the UAE-UK Partnership to Tackle Illicit Financial Flows, the two countries are in talks about...

UK and UAE Take Steps in Joint Efforts to Combat Money Laundering Explore More

News

EUR 27 Million Worth Crypto Assets Seized by the NCA in Money Laundering Crackdown

NCA seizes crypto assets worth £27m last year in a major money laundering crackdown Although inst...

EUR 27 Million Worth Crypto Assets Seized by the NCA in Money Laundering Crackdown Explore More

News

Face Detection Tool to Fight Bots Under Trial by Facebook

Facebook is currently battling a $35 billion class-action lawsuit for alleged misuse of facial re...

Face Detection Tool to Fight Bots Under Trial by Facebook 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

Another Step Taken by the EU to Harmonize AML Rules

The European Banking Authority has proposed new guidance for compliance officers. The attempt is ...

Another Step Taken by the EU to Harmonize AML Rules Explore More

News

Labor Party Victim of a Second Cyber-Attack

Britain’s Labour Party has informed that it had been a victim of a large-scale cyberattack on its...

Labor Party Victim of a Second Cyber-Attack Explore More

News

Global Banks Slapped with a Total of $14.21 Billion Fines in 2020

Finbold released a report on the global banks that were fined in 2020. According to the report, a...

Global Banks Slapped with a Total of $14.21 Billion Fines in 2020 Explore More

News

FinCEN Alerts FIs on Nationwide Surge in Check Fraud Targeting U.S Mail

The FinCEN (Financial Crime Enforcement Network) issues an alert to all the FIs (Financial Instit...

FinCEN Alerts FIs on Nationwide Surge in Check Fraud Targeting U.S Mail Explore More

News

AMLC Reports Steady Rise in Phishing and Hacking Attacks in the Philippines

The Anti Money Laundering Council (AMLC) has reported a steady rise in phishing and hacking attac...

AMLC Reports Steady Rise in Phishing and Hacking Attacks in the Philippines 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

Vietnam Enhances Anti-Money Laundering Laws to Prevent Financial Crimes

Vietnam regulatory departments are redefining their AML compliance measures to supervise cryptocu...

Vietnam Enhances Anti-Money Laundering Laws to Prevent Financial Crimes Explore More

News

SkyCity Entertainment Earmarks $29m for Anticipated AML/CFT Regulations Fine

Australian gaming company, SkyCity Entertainment, has provisioned $29m in anticipation of a civil...

SkyCity Entertainment Earmarks $29m for Anticipated AML/CFT Regulations Fine Explore More

News

ProtonMail added an encrypted calendar to its encrypted Gmail competitor

Previous year Google faced a hefty fine of $170 million by the Federal Trade Commission following...

ProtonMail added an encrypted calendar to its encrypted Gmail competitor Explore More

News

Ireland Seizes More than €1m Cryptocurrency from Money Laundering Syndicate

Ireland seized over €1m in cryptocurrency as a part of an investigation against national and inte...

Ireland Seizes More than €1m Cryptocurrency from Money Laundering Syndicate 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

Lebanon Central Bank Denies Money Laundering Allegations and Embezzlement Charges

The governor of the Lebanese central bank appeared in the first court hearing on the premise of s...

Lebanon Central Bank Denies Money Laundering Allegations and Embezzlement Charges Explore More

News

SA Government Passes New Legislation to Avoid FATF Gray list

South African government has passed two crucial legislations to prevent potential greylisting by ...

SA Government Passes New Legislation to Avoid FATF Gray list Explore More

News

Singapore Taking New Actions Against Terror Financing and Money Laundering

Singapore’s Parliament took improved measures against the financing of terrorism and money launde...

Singapore Taking New Actions Against Terror Financing and Money Laundering Explore More

News

EU, UK and US Blame Russia for Cyberattacks on Internet Service Providers

Accusations were imposed on Russia due to the recent disastrous cyberattacks on the European sate...

EU, UK and US Blame Russia for Cyberattacks on Internet Service Providers Explore More

News

US drug agency failed to properly oversee crypto investigations

It was published in the IG report, which is an audit of “income-generating, undercover operations...

US drug agency failed to properly oversee crypto investigations Explore More

News

Crypto Industry Rejects New Rules to Report NFT and DeFi Transactions

The representatives of the Crypto industry have disapproved of reporting data about NFTs, DeFi tr...

Crypto Industry Rejects New Rules to Report NFT and DeFi Transactions Explore More

News

Ex-Microsoft engineer accused of digital currency scam

Ukrainian citizen, Volodymyr Kvashuk, has been accused of six counts of money laundering, five of...

Ex-Microsoft engineer accused of digital currency scam Explore More

News

Europe Bolsters Fight Against Financial Crime with AMLA Formation

The European Parliament (EP) and European Union (EU) council teams have agreed to create the Euro...

Europe Bolsters Fight Against Financial Crime with AMLA Formation Explore More

News

One Million Student Records Compromised by E-Learning Sites

About one million online student records that contain personal information of students have been ...

One Million Student Records Compromised by E-Learning Sites Explore More

News

Korea FSC Confirms Plans for Crypto-focused Bureau at KoFIU

According to the FSC, the crypto-focused bureau will improve the transparency in virtual asset tr...

Korea FSC Confirms Plans for Crypto-focused Bureau at KoFIU Explore More

News

COVID-19: Banks and mobile companies join to block texting scams

The banking and mobile phone industries are declaring advancement in the face of a rise in so-cal...

COVID-19: Banks and mobile companies join to block texting scams Explore More

News

SEC Warns Philippines Companies on Lack of AML Compliance

The Securities Exchange Commission (SEC) warned that it would enforce the Revised Corporation Cod...

SEC Warns Philippines Companies on Lack of AML Compliance Explore More

News

SRA Fines Oxfordshire Law Firm over Weak AML Controls

The SRA (Solicitors Regulation Authority) has charged £20,000 to an Oxfordshire law firm after id...

SRA Fines Oxfordshire Law Firm over Weak AML Controls Explore More

News

New Zealand’s FMA Issues New ID Verification Guideline

A new explanatory note has been issued by New Zealand identifying the sources of information that...

New Zealand’s FMA Issues New ID Verification Guideline Explore More

News

US Crypto Industry Faces Pushback on Implementation of Crypto-Friendly Legislation

The US crypto firms visited Capitol Hill to push their industry-friendly regulations however, thi...

US Crypto Industry Faces Pushback on Implementation of Crypto-Friendly Legislation Explore More

News

US Treasury Launches New Financial Force to Combat Illegal Fentanyl Trade

The US Treasury Department has announced the launch of the Counter-Fentanyl Strike Force to comba...

US Treasury Launches New Financial Force to Combat Illegal Fentanyl Trade Explore More

News

China Pledges “Zero Tolerance” for Financial Fraud

Top financial regulators in China pledged to introduce stricter controls following the recent dis...

China Pledges “Zero Tolerance” for Financial Fraud Explore More

News

Philippine Gaming Watchdog to Make Every Effort to Remove From FATF’s Gray List

The Philippine Amusement and Gaming Corporation (PAGCOR) has stated that it will make every effor...

Philippine Gaming Watchdog to Make Every Effort to Remove From FATF’s Gray List Explore More

News

Binance Expands Footprint in Europe as it Acquires License to Operate in Sweden

The Swedish financial supervisory authority (FSA) allowed Binance to operate in the country, whic...

Binance Expands Footprint in Europe as it Acquires License to Operate in Sweden 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

FATF Urges Japan to Implement Stronger AML Measures

The FATF mutual evaluation report on Japan proposes the formation of a joint-agency body to enhan...

FATF Urges Japan to Implement Stronger AML Measures Explore More

News

EFCC Warns Financial Crime is Thriving in Real Estate

According to the Economic and Financial Crimes Commission, EFCC, real estate companies are requir...

EFCC Warns Financial Crime is Thriving in Real Estate Explore More

News

Panama & the Cayman Islands’ AML Efforts May Lead to Removal From FATF Gray List

According to the Paris-based watchdog, Financial Action Task Force (FATF), Panama and the Cayman ...

Panama & the Cayman Islands’ AML Efforts May Lead to Removal From FATF Gray List Explore More

News

RICS Urges Firms to Adopt ‘Extremely Careful’ Due Diligence Measures

The RICS has issued a statement for its members urging them to adopt ‘extremely careful’ measures...

RICS Urges Firms to Adopt ‘Extremely Careful’ Due Diligence Measures Explore More

News

Russian govt introduces Fintech Sandboxes, including Blockchain

The Russian government plans on the creation of regulatory sandboxes for companies working on con...

Russian govt introduces Fintech Sandboxes, including Blockchain Explore More

News

Global Banks Slapped with a Total of $14.21 Billion Fines in 2020

Finbold released a report on the global banks that were fined in 2020. According to the report, a...

Global Banks Slapped with a Total of $14.21 Billion Fines in 2020 Explore More

News

CBN, NFIU to Monitor Illicit Crypto Transactions in Centralized Exchanges

The CBN and NFIU have been urged to track illicit transactions in cryptocurrency by engaging with...

CBN, NFIU to Monitor Illicit Crypto Transactions in Centralized Exchanges 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