Press Release

Bonorum joined hands with Shufti Pro to run a secure trade platform

James Efron
February 07, 2020
3 minutes read
1663

London, UK – (January 2020) Shufti Pro partnered with Bonorum to help them perform efficient KYC/AML screening on their community of businesses and investors.

Shufti Pro proved yet again that its solutions hold the potential to serve a diverse clientele. It partnered with Bonorum, a next-generation DLT-based trade finance platform focused on serving corporates and SMEs. Bonorum will align contributors with enterprises by providing a more efficient alternative to traditional trade finance. In this way, Bono will help businesses secure the financing they need while offering contributors access to the trade finance sector.

Whenever such a diverse community is developed online, the need for strict due diligence measures is necessary. Bonorum’s business model requires onboarding corporates and investors to their digital platform, so it is critical that they implement effective fraud prevention measures. They also have to ensure that their customers are who they claim to be. To achieve this transparency, Bonorum knew that traditional manual KYC/AML measures were too slow and unreliable for their business model to succeed.

Shufti Pro proved to be the best solution for their need. It provides global coverage in its identity verification services and helps businesses attain a global risk cover. Shufti Pro can verify the individuals, as well as businesses with high accuracy and the customers of Bonorum include both. Shufti Pro will be providing document verification services to Bonorum. It will verify the identity documents in real-time assisting the company in onboarding customers swiftly and safely.

Expressing the confidence towards this partnership, the founder of Bonorum, Bunty Agarwal said,

“We turned to Shufti Pro to provide Bonorum with the capability of doing automated KYC/AML checks for our users in over 150 countries using multiple types of identification documents. Shufti Pro’s new business KYC service will help us with enterprise verification as we continue to grow our business and expand our services.”

Shufti Pro has proved time and again that it has the potential for businesses with different business models. Its solutions are designed keeping in view the global need for KYC/AML compliance and risk prevention.

Victor Fredung, CEO of Shufti Pro expressed his excitement towards this partnership and said, “Shufti Pro is very enthusiastic to onboard yet another great customer. We aim to maintain this partnership for a longer period by providing them our best services. Working with diverse businesses such as Bonorum is always a great experience.”

About Bonorum

Bonorum is a technology platform that assists businesses in secure trade finance. Bonorum aligns Contributors with Enterprises by providing a low-cost alternative to traditional Trade Finance. The Bonorum platform enables contributors to share in the commercial success of Enterprises. Transactions are fully securitized on the blockchain to provide Contributors with transparency and a permanent record of operations and to digitize paper-based processes such as KYC, document authentication, file storage, credit histories, and even payments.

About Shufti Pro

Shufti Pro is an identity verification service provider that offers KYC and AML solutions to worldwide clients. Using a hybrid approach of AI and HI technology, Shufti Pro delivers results within 30 seconds with accuracy as high as 98.67%. Having verified users in over 232 countries, Shufti Pro is a pioneer in IDV services to cover a large number of countries.

Contact sales@shuftipro.com to get on board!

Sign to Know you are a victim of SIM swap fraud:

It can be a challenge to stay a step ahead of SIM swap scams. But there are always some warning signs so you can put a halt to fraudsters’ access as soon as you know those signs. Here are some of those signs:

One warning sign, which is very common, is social media activity that isn’t yours. Any social status upload or tweet which you have not done alerts you to the breach.

The other big sign is when your phone calls and texts aren’t going through. This may happen when the scammer deactivates your SIM and uses your phone number so you are unable to make calls or texts.

If you get a notification that your SIM card has been activated on another device you’ll know you are a victim. So never ignore your notifications!

If you lose access to your accounts and your login credentials no longer work, it’s most likely that they have been taken over through your number. In such a case, without losing a minute, contact your bank or other organization immediately.

SIM swapping due to poor ID verification process?

SIM swapping has become a significant threat for users as a large number of users are having their lifetime savings and invaluable data stolen from under their eyes. This is happening solely because mobile operators are seemingly failing to take reasonable steps to prevent these criminal hackers. They need to have proper identity verification checks so that they can restrain fraudsters from gaining access to anyone’s SIM.

SIM-swap-related incidents have increased sharply over the past few years because the telecommunication industry lax identity verification checks and make customers vulnerable to a variety of different hack attempts.

10 million free ID verifications to fight COVID-19 outbreak. Details Here

Bonorum joined hands with Shufti Pro to run a secure trade platform

What is SIM Swapping Scam?

How does it work?

SIM Swap Hackers Targeting Crypto Investors- Some Examples:

Sign to Know you are a victim of SIM swap fraud:

SIM swapping due to poor ID verification process?

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