Digital Kyc For Icos

KYC Services For ICOs – Why you need to have them now?

KYC services play a vital role in conducting an ICO in more than one way. They can make the entire process transparent and can boost the credibility of the company intending to hold that ICO. Digital KYC services also assist the organizers to blacklist individuals that can pose financial crime risk for the initial offering.

More and more ICOs are raising funds and a culture of trust is being built between investors and blockchain based ventures conducting these ICOs. This trust is depicted by huge sums of money raised by ICOs belonging to different categories of technology. Here are the top 5 categories, number of ICOs belonging to these ICOs and total amount of money raised by these ICOs for a successful launch of their venture

                                                                                                                    Source: ICOBench

Here are some of the detailed reasons why every ICO must involve a trustworthy KYC service provider like Shufti Pro.

Regulatory Compliance

ICOs are attracting huge interest from regulators of financial world. They are interested that who are the people showing interest in these ICOs and what is the source of their wealth that assist them in making investment in these ICOs. In the hindsight, this interest is not entirely ill-placed. ICOs and cryptocurrency has been attracting lot of criminal elements to transfer their funds from one corner of the world to another. Then there is the case of money-laundering activities being done under the guise of cryptocurrency by several individuals.Involving services of a 3rd party KYC services provider can enable ICOs to offset heat from financial regulators

Actually Know Your Customers

KYC services are like bouncers at the front door of a club. You only allow those customers that are actually going to spend money in your ICO and are genuinely interested in buying a monetary interest in your investment venture. Digital KYC Services will also help reduce the risks by customizing screening criteria, so that you can be specific in eliminating financial risk persons from your ICO. This will help you safeguard the reputation of your up-and-coming venture.

Reliability and Credibility

When KYC Services are integrated in an ICO, it helps the offering entity to earn reliability and credibility among its future investors. They consider the company to be serious in performing a transparent initial offering. After all, appearances have a lot to do with the popularity and credibility of a venture like ICO. Volatility of cryptocurrency has already created lot of doubts about such ventures but when a company employs technology like KYC to ensure an indisputable offering, it will benefit from it in longer run as well. Pumping and dumping phenomenon can surely be reduced by this risk mitigation process, resulting in better ROI for investors who trusted the potential of your product at the time of ICO.

Legitimate Funding

Next generation technologies like KYC combined with AML Compliance, as provided by Shufti Pro, will give full trail of the funds collected by any ICO. Regulators will be answered aptly about the funds raised by your venture and thorough background checks will help you screen out persons, entities and companies that pose financial risk for your ICO. Shufti Pro has a databank comprising of 1000 whitelists and 3000 databases that is updated every 14 minutes. This huge databank is used to perform background checks for AML compliance that will help reduce the risk of regulatory scrutiny.

How Shufti Pro can Help with KYC for ICOs?

KYC for ICOs solutions are offered by Shufti Pro with a lot of room for flexibility. Simple ID verification can be availed to ensure that users with only authentic official IDs are allowed to participate in an ICO process. Shufti Pro can validate official identity documents issued by more than 225+ countries and published in 150+ official languages. Shufti Pro also has the ability to perform ID verification using OCR technology with its InstantCapture solution. In this identity verification solution, personal information of a potential investor are scanned directly from their official identity document and is then automatically uploaded in to the verification form, that is forwarded to Shufti Pro for authentication after formal approval from end-user.

There are many features and aspects of KYC for ICOs solution from Shufti Pro that demand that you seriously consider integrating it with your upcoming ICO. Some of these features are:

  • Proof of Verification
  • Available in 225+ countries
  • Restful API and mobile SDKs for integration
  • Multiple Verification formats
  • Pay as you go pricing feature
  • No minimum verification volume

Looking at all the above features, a strong case be built not only around the advantages of ID verification but also Shufti Pro being the preferred choice for identity verification services.

AML Compliance Fincen

Challenges of AML Compliance under FinCEN

AML Compliance for US based Cryptocurrency companies has been tightened by Financial Crimes Enforcement Network (FinCEN) in recent years. This tightening of regulations is mainly owed to the fact that cryptocurrencies like Bitcoin and Ethereum are being used at a much larger scale in modern days for transactions and paying for services. This increased usage of cryptocurrencies has made the regulator, working under US Treasury, to tighten its grips on cryptocurrency companies to monitor that the blockchain tokens are not being used for money laundering activities or for funding terror activities.

What are the responsibilities of FinCEN?

FinCEN was established back in 1990 and is tasked with monitoring of financial transactions in order to combat domestic and international money laundering, terror financing and other financial crimes. The strength of FinCEN lies in the fact that it can gather information from federal, state and local authorities to cross-check the transactions performed by individuals and businesses.

Why FinCEN is becoming more vigilant?

Blockchain technology is a fully secure technology that is host to most of the cryptocurrency platforms. Online Wallets are being used to store cryptocurrencies and the owner of the wallet can easily transfer this currency to another person’s wallet. Far from the domain of conventional banking, cryptocurrencies is not only secure but is mostly anonymous as well.  All you need is the access key to online wallets and you can easily transact cryptocurrency.

Not only the anonymous transactions became a matter of concern for FinCEN but the various cryptocurrency exchanges and companies offering real world currencies in exchange for crypto tokens also attracted attention from US regulator. FinCEN cannot target individual users due to the layer of anonymity covering the entire blockchain technology. But they want cryptocurrency exchanges and companies offering real world monetary transactions against these tokens to be compliant to their regulations.

How does FinCEN deals with Cryptocurrency?

FinCEN provided a well-defined outline of AML Compliance and entire transaction cycle of cryptocurrency was also explained in 2013 by financial regulator.  Each participant was defined as “user,” “exchanger,” and “administrator.” According to FinCEN, a “user” is a person who actually purchases virtual currency. An “exchanger” is a business entity involved in exchange of virtual currency for real currency, funds, or other virtual currency. An “administrator” is defined as a business entity that is issuing a virtual currency and who has the authority to redeem such virtual currency.

According to these new guidelines, FinCEN declared that an administrator or exchanger that becomes a medium for transaction of cryptocurrency will be treated as a money transmitter making them liable to FinCEN’s money service business regulations. By bestowing the status of Money Service Business, otherwise known as MSB, FinCEN made it mandatory for “exchangers” and “administrators” to comply with their AML Compliance practices and also brought them under the regulatory scrutiny of OFAC.

These above stated definitions were further refined in 2014 when FinCEN declared that:

“a person is an exchanger and a money transmitter if the person accepts convertible virtual currency from one person and transmits it to another person as part of the acceptance and transfer of currency, funds, or other value that substitutes for currency.”

These upgraded definitions and status of MSB made virtual currency businesses and entities to adopt AML Compliant programs. Several enforcement actions have already been taken by FinCEN against businesses that didn’t take these new guidelines seriously or maintained that they don’t strictly follow a MSB business model.

AML Compliance for FinCEN

Shufti Pro is an end-to-end verification SAAS product that has provided AML Compliance services to various cryptocurrency businesses. Thorough background checks are conducted by Artificial Intelligence of Shufti Pro not only against sanction list of OFAC and UN but against 1000 Watchlists and 3000 databases. Gigantic databank of Shufti Pro is updated every 14 minutes so that the list of names/suspicious users is up to date and our virtual currency customers are given full value for their money. There is probably no better and more cost effective way to reduce the risk of regulatory penalties except for AML Solutions offered by Shufti Pro.

Reaching to a global clientele is essential for a successful ICO but the strong regulations of FinCEN demand that each member of ICO is fully vetted to ensure transparency. Shufti Pro enable cryptocurrency businesses and exchanges to adopt a global prospective as it can verify the identity and perform background checks for individuals belonging to every country of the world. Documents can be verified in every language of the world to ensure the identity and personal details of potential investors, offsetting the risks of monetary fines from FinCEN on crypto-enthusiasts.

Recommended For You:


How crucial is AML/CFT Compliance for Hong Kong based Businesses?

Hong Kong serves as financial hub of trade and financial industry especially due to its strategic location in APAC and Far East Region. Along with Singapore, Hong Kong’s financial market handles funds from Western capitals of finance for global trade activities. This makes AML Compliance a necessary aspect for funds managers and banking institution. Stock market trading and financial services also make up a major part of this city state’s economy. Recently, the trend to verify the identities of users and clients by major players of Hong Kong economy has gained prominence. This trend gained momentum not only by greater regulatory scrutiny to clamp down on money laundering activities, but private institutions and businesses also wanted to reduce the risk of being fined for becoming an accomplice in a financial crime.

Digital KYC Services

Hong Kong is aspiring to become a Fintech hub and the authorities understand that it is not possible without establishing a state of the art AML database. On their part, Hong Kong government is ready to fast track this entire Digital AML process by launching new smart identity cards that will be replacing existing ones by 2019.

Even banks doing business for decades have been forced to take a proactive role in ascertaining the identity and credentials of their users before providing them with financial services. HSBC is one such example as the bank has started gathering greater customer information to introduce transparent business practices. Just like HSBC, banking organizations and financial institutions were forced to adopt KYC because they were fined in some other territories and countries. For example HSBC was fined millions of dollars in United States for not being vigilant about the identity of its customers. Thus the bank has introduced greater compliance practices like KYC to prevent further penalties.


AML Compliance in Hong Kong

Just recently, Hong Kong authorities changed their Anti-Money Laundering regulations to make them stricter and thus ensuring compliance from ever-so-powerful banks and financial organizations. As a global hub of trade and funds management in the eastern hemisphere, Hong Kong provides a unique opportunity for financial criminals to launder money or transfer funds under the guise of stocks or tradable goods.

Today, innovative practices are being adopted by banks and funds managers in Hong Kong to check for money laundering and terror funding. Account holders are being asked to declare number of transactions that will be performed from their accounts on monthly basis. For larger number of transactions, customers have to give a valid reason. In case a customer signs up with maximum 5 transactions per month and suddenly there are hundreds of transactions being made from that account, red flags start going up.

Recommended For You: RegTech facilitates effortless AML Compliance

KYC and AML Compliance has become necessary to ensure transparency in customer’s global data, operating out of Hong Kong. A centralized KYC and AML compliant system adopted by banks and financial organization will allow for a hassle free account opening, online transactions and easy insurance claims.

Now with all this vital information and confidential data being collected by banks, serious concerns have been raised about the security of data and potential of data breaches. This is where a tried and trusted solution like Shufti Pro can come in handy for financial institutions and banking industry of Hong Kong. It is an AI based comprehensive identity verification service offering both Digital KYC and AML Compliance services. Each digital KYC verification is performed within 30-60 seconds by Shufti Pro and background checks for AML Compliance are performed against 1000 Watch Lists and sanction lists, in addition to 3000 databases. This huge data is maintained by financial crime regulators like UN, Interpol, OFAC and HMT. This gigantic databank for AML Compliance is updated every 14 minutes for constant and updated monitoring.

Shufti Pro is perfect for a global financial hub like Hong Kong as it can verify identity of a person belonging to every country of the world. Its Artificial Intelligence backed system can read and verify credentials in every language of the world as well. So, if you also want to avail top class identity verification service for Digital KYC and AML Compliance, then Shufti Pro is the right choice.


Digital Kyc Services

How Real ID Act enables Digital KYC Services for US Customers?

Digital KYC Services for US based customers are in debt of Real ID Act as it streamlined the process of issuance of identity verification documents. Real ID Act was able to introduce basic standards to assist US States when they issue a driving license to their citizen or any other relevant identity verification document. 9/11 was a big influencer in the introduction of this act as the commission made for investigation of the catastrophe gave the suggestion to introduce a uniform system of issuing IDs to citizen. They suggested a federal legislation that will not be binding on the states to follow but will serve as fundamental groundwork to establish verifiable documents for the citizens of United States.

Why Real ID Act was needed?

Before the introduction of Real ID act in 2005, there were stark differences among driving licenses and other IDs issued by states to their citizens. Some of them used sophisticated method to discourage identity theft and fraudulent activities while others used outdated techniques to issue same documents. This created a haphazard ID regime which was not only inefficient but also created financial and criminal loopholes. Although, introduced before Digital KYC services became all the rage but Real ID Act also enabled businesses and companies to ascertain the identity and credentials of their customers.

What does Real ID Act entail?

The intention of Real ID Act was very simple: Stop the practice of making secure yet fraudulent IDs and driving licenses. In hindsight, this is the intention of Digital KYC Services as well. Real ID Act wants states to adopt technologies and practices that eventually lead to issuance of secure identity documents. According to the legislation, a standard ID must have following characteristics:

  • It must be machine-readable
  • Must include 2-D barcode

Within that bar code, following information must be stored

  • Expiration Date of document
  • Full Legal Name of document holder
  • Data of transaction
  • Data of Birth of document holder
  • Gender of document holder
  • Address of document holder
  • Unique driver’s license or Identification card number (whichever is applicable)
  • Card Design Revision Date
  • Inventory control number of physical document
  • Name of state or territory that has issued the document

Now as you can see, an identification document containing all this data will be sufficient to verify the identity of a person. In order to ensure the credibility of the document itself, the machine readable nature and 2-D barcode are satisfactory.

In order to further fortify the security of these identity documents, there are other measures suggested to be made part of these documents that will hinder tampering of documents, production of counterfeits or for duplication of genuine documents.

KYC Services Supported by Real ID Act

Although, there are many states who are yet to fully comply with Real ID Act, but the overall response to the process has streamlined the way for Digital KYC services. With machine readable driving licenses and 2-D barcode carrying  vital information, each customer can be verified against the credential that they have entered while making an online purchase or for opening a bank account.

The rate of online fraud and the risk of online identity theft has also reduced substantially because of Real ID Act as not only the law enforcement agencies have been able to identify personnel through a unified system of identity verifying documents but Digital KYC services providers have been able to verify the real identity of a user because of technologically advanced documents. This act has enabled Digital KYC services to verify following:

  • Identity of an Individual
  • Age of an Individual
  • Address of an Individual

So, to put it in nutshell, Real ID Act has assisted companies like Shufti Pro to provide seamless identity verification services for US based businesses. It is one of the finest examples of real world legislations supporting the technological world in order to ensure transparency and ease of business. Because of Real ID Act, technologically advanced identity documents are now issued in US States that can be verified by Shufti Pro in 30-60 seconds with 100% accuracy.

Recommended For You:

Digital Kyc AML Compliance

Shufti Pro – Pioneer in automated Digital KYC and AML Processes

Shufti Pro has become a leading identity verification service in a small amount of time because of its robust digital KYC services and AML process. With Artificial Intelligence set at the heart of Shufti Pro, automated verification has reduced the processing time to verify the identity and credentials of users. Employing modern day tech and machine learning techniques, Shufti Pro has established a full-proof Digital KYC system that can make every person on the face of planet 100% verifiable within 30-60 seconds.

Shufti Pro focuses not only on an automated system but also ensures safety of data collected for verification. PCI compliance and GDPR authorized services of Shufti Pro puts it at position of strategic advantage which can be leveraged for higher productivity without compromising quality of services. 24/7 access available in all countries of the world with Universal Language support means that Shufti Pro services are unmatchable when it comes to Digital KYC.

Automated Digital KYC

Shufti Pro provides its Digital KYC services through various means like

  • ID Check
  • Identity Check
  • Documents Check

Digital KYC Services from Shufti Pro not only covers all the above aspects of customer’s identity verification but it also provides proof of verification to ensure transparency. A recorded video stream, sequence of images and 24/7 access to customer data ensure that Shufti Pro’s clients are always in control of the identification services that they are paying for. Flawless API and SKD integration means that Shufti Pro will merge with your online portals and apps without causing any hassle for your users.In order to provide multi-faceted digital KYC services, Shufti Pro offers both Video Verification and Still Verification. Shufti Pro have made a comprehensive system of identity verification and left it on its valued clients, that what kind of identity verification services their business require.

AML Compliance

Real time background checks performed by Shufti Pro makes it a reliable AML Compliance tool for organizations operating in Banking & Finance domain. Instead of wasting human resources on manual verification, financial sector can make use of end to end verification services by Shufti Pro. AML Compliance services from Shufti Pro are cost effective and comprehensive at the same time.

Banking on the huge data compiled from 1000 checklists and 3000 databases, Shufti Pro enables organizations to forecast and identify financial risks and frauds. Thorough cross-checkings from huge data bank – updated every 14 minutes – ensure a durable oversight for customer onboarding and funds transfer. Shufti Pro reduces the risk of earning penalties or monetary fines from regulators due to lack of diligence against laundering activities. It provides protection against financial crime risk by:

  • Filtering customer data
  • Checking for Politically Exposed Persons (PEP)
  • Verification of sudden increase in  funds
  • Flagging of suspected users

Technologies that make Shufti Pro Top of the Line

Shufti Pro is a power house when it comes to governing technologies. Not only does it encompass Artificial Intelligence but it also incorporates Human Intelligence, creating a  Hybrid Intelligence for an error-free Digital KYC System. Machine Learning Algorithms are used to convert images, text data and credentials into binary data that is then cross-checked with the original source. This intelligently designed system of Shufti Pro can detect

  • Photoshopped / Counterfeit Items
  • MRZ Codes from Passports
  • Hologram Detection using artificial neuron vision
  • Picture Edges to verify authenticity of documents
  • Micro Expressions of the users
  • Face Liveness to detect a real person
  • 3D Tracking

As a pioneer of end-to-end Digital KYC System, Shufti Pro is pushing the envelope by utilising Artificial Intelligence that has 99.6% precision of verifying the identity of an individual.Chances of false positives is substantially reduced with Shufti Pro as it has the power to detect any discrepancy in format, information or visual data provided by the user. Shufti Pro uses best practices of machine learning to provide superlative Artificial Intelligence making the Digital KYC of Shufti Pro second to none.


Shufti Pro is a full-proof system for companies that want to indulge the services of a Digital KYC provider that understands the challenges of identity verification. Round the clock human intelligence support, verification services for every country of the world and support for every language are all the features that help Shufti Pro to stand out from its competitors. Just pay one time setup fee, without any commitment for minimum number of verifications, and after that pay as you go. Shufti Pro is a comprehensive digital platform covering both KYC services and AML compliance at the same time.

Shufti Pro partners with BITTIGER

Shufti Pro Extends Digital KYC Services To Silicon Valley based Venture – BitTiger LLC


Bath, United Kingdom – May 14, 2018 – Shufti Pro, the PCI certified, AML and Digital KYC services provider, announced today their partnership with BitTiger LLC.

Shufti Pro, the emerging go to name for KYC compliance, is ecstatic to be acknowledged as the official Know Your Customer (KYC) collaborator for BitTiger. An online learning medium, providing high tech educational courses for global students to undertake at affordable rates. Shufti Pro will be extending it’s Digital KYC services which can perform remote identification of students who are scattered around the globe. The process is assisted with comprehensive compliance policies which Shufti Pro adheres with.

BitTiger was formed with the vision to fill in the potential gaps between traditional education institutions and the practical skills required to be immediately productive in the industry. Providing hands on education to students and addressing key industry specific knowledge/training deficits for clients.    

As a global platform, BitTiger required a solution that proved to be robust and equally scalable according to their target requirements; which was to ensure the protection of their proprietary content by verifying students for registration using Digital KYC Services.

When enquired, this is what the BitTiger officials had to comment. “Shufti Pro offers great identity verification services to meet the needs of BitTiger, for course enrolment. In order to protect the copyright of BitTiger’s educational content, we require students to verify their ID to register. Shufti Pro provided customised portals for different courses, which made it convenient for BitTiger to operate with the  high volume of customers. The built-in video identification feature is intuitive for customers, to follow the process and verify successfully. We have found the team at Shufti to be very responsive in helping with any questions or concerns.

Shufti Pro’s CEO had the following to voice on the collaboration. “We are excited to be a part of BitTiger’s initiative to prepare the next generation of tech gurus. Also, their effort to ensure that these students are trained to be ready for the latest tech jobs is a noble cause. Our partnership will add value to the portfolio of both the companies, since each is the best in their respective industry domains. We look towards a fruitful and long term business relationship with BitTiger.

Shufti Pro offers a comprehensive platform for Digital KYC services, to ensure risk mitigation and fraud prevention. Providing customers with an unmatched UX/UI interface experience, that provides least human intervention and flawless AI technology in operation. Verification and assessments are provided back with industry best sixty (60) seconds or less response times. Shufti Pro will aid BitTiger LLC by providing unmatched verification services, alongside a superior UI experience. A blend of Human and Artificial Intelligence will always make for superior result accuracy and maximum assessment for fraud prevention. To maintain an educational repute and standard, it is equally important for educational providers to validate the identities of their students and prevent any malpractice.

About Shufti Pro

Shufti Pro is the upcoming entrant in identity management, Digital KYC and AML. The company saw inception on 31st October, 2016 in Bath, UK. The primary goal of the company is to provide its users with optimal customer experience, while maintaining highest levels of fraud prevention. As a company, it offers industry perfected SaaS that integrates a superior blend of Artificial and Human Intelligence. Operating in access of 220 countries and over 150 languages, businesses can now undergo hassle free digital verification processes, with least friction along side unparalleled technology. The company is located in United Kingdom with its global office located in Sweden. Please visit Shufti Pro here.

Shufti Pro Limited

Unit C401, Westfield Shopping Centre,

Ariel Way, London, W12 7FD

About BitTiger

BitTiger is an interactive learning platform, that provides cost effective and quick training to students in practical skills development. BitTiger prepares the students of today, to industry tailored requirements for their future employment with large tech companies. BitTiger aims to be more accessible than a university set up and more effective than MOOC courses.

BitTiger is primarily a community of Chinese computer engineers studying and working in North America. Mostly offering, Pre Recorded Courses, Project Intensives, Mastery Programs and Career Services.

online license verification

License Verification for Online Transport Services


License Verification for Online Transport Services

The world of transport services has dramatically changed in the past decade. There used to be government provided public transport and companies that ran taxi services, but the era of the smartphone and the Internet has changed the face of transport. Any individual can now opt to be a driver and offer transport services through organisations such as Uber, Lyft, Careem, etc. This has made the whole transport business more complicated. In the old days the government and taxi companies usually carried out intensive background checks and license verification in person when they hired a driver. Although the process was not completely foolproof, it still had a low fraud rate. With these virtual taxi services that run on apps utilising the power of the Internet, the whole process is done online. The online registration process has opened up a Pandora’s Box of problems since there isn’t any deterrent for business fraud prevention. Meaning unless there is a proper verification service involved, things can turn bad. We will look at the problems and their consequences associated with the online transportation service. We will also discuss how 3rd-party verifiers can help these problems and what to look for when searching for an ID verifying company.

The License Verification Dilemma

As mentioned when everything is done online, you really cannot verify if what the person is saying is true. We will elaborate this problem with an example, supposing that I don’t have a driver’s license or it has been revoked. Yet I wish to take advantage of this online opportunity to sign up as a driver and make money. I can give details belonging to someone else to register myself and the company would be none the wiser. As there are no physical checks as such. The only way they would find out is when I get caught by law enforcement officials when I get pulled over.  This would get the driver in trouble but more so it will give the company that hired the driver a bad reputation.

Scenarios Related to Lack of Verification

To stress the severity of this issue, we will look at some of the problems that can result of the lack of verification. Let’s take our previous example in to consideration, the driver has a serious medical condition that renders him a danger to other drivers and people. The medical condition was the reason of his license getting revoked. In this case, getting pulled over for a small traffic violation is one thing, but causing harm or even death to another individual is a terrifying thought but one that could happen. Criminal activities is another plausible scenario; a driver who has false credentials can easily get away with some crime as well. Knowing that the information he has registered with is not traceable to him. The scenarios mentioned above will portray an extremely negative image of the company that hired the individual.

The problems do not end their, business fraud can also occur. The actual driver can send someone else in their place without the company ever finding out. Since there is no check when the driver initiates the app or software anybody can use the online transportation account. With no business fraud prevention system the register driver can cheat the company. 

License verification and Business Fraud Prevention

Having mentioned all the terrifying scenarios that can occur one would think that is there any hope? The fact is that the occurrence of such issues is quite less, but all it takes is one instance to cause harm to the repute of the business. Business fraud prevention and license verification can be done online as well. When problems arise people start looking for solutions to those problems. The same goes for online verifications, here third-party online verifiers play an integral role. These verification service providers have advanced systems that can weed out any foul play in documents as well as during live verifications. They also provide proof of the verification via pictures or a video in case of a live verification session. With the implementation of such a system, the chances of online fraud drop considerably. As anyone with an intent to carry out any type of business fraud would be deterred the moment they are asked to come in front of the camera.

Features of a Good Verification Service Provider

We’ll take a look at the factors that one should look for when choosing a good Online ID verifier. Most of the online verification service providers have at the backend an advanced AI system that flags any tampering of official documents and pictures. The best option is to go for a verifier that offers a hybrid system that includes both an advanced AI and HI (Human Intelligence). In this system live people check the AI’s result for false positives.

Anybody in the services industry knows that time is of the essence. People in general, don’t like long complicated procedures; the best providers offer verification times that are in the seconds. They have concise and easy-to-follow instructions.

For the sake of convenience depending on industry and customer type good ID verifiers offer the convenience of both online (live) verifications and offline verifications. This allows the user to submit documents that are also verified within seconds. An additional feature of live verifications is that a recording or pictures of the person actually holding up and showing their documents as well as their own picture in real time.

A very important feature to look out for is the company you are taking on must be compliant with the latest requirements in the industry. As non-compliance can result in heavy fines for you and for the company in concern.

Recommended For You:
Warning Signs

Warning Signs of ICO Scams and the Role of Identity Verification Service

If you have heard of Bitcoins and cryptocurrencies then you must have heard of ICOs or Initial Coin Offerings. ICOs are the rave in the world of business financing; it is a game changer. The advent of the blockchain, the science behind cryptocurrencies, is what eventually led to the event that we call an ICO. Before that, businesses and individuals who wished to get financing for the fruition of their ideas had to go through long and complicated processes in order to qualify for venture capital investments or bank loans. The ICO allows one’s ideas to be crowdfunded with minimum or no time consuming paperwork. The ICO is the IPO (Initial Public Offering) without all the complications and paperwork and instead of Shares you get Coins. The problem arises since there aren’t many fraud prevention checks by governments and other regulatory bodies that are found with other financial platforms and mediums. We will look at the scale of these scams and we will discuss the various warning signs one should look out for when investing in an ICO. Also, we will see how ICOs that have an identity verification service or a digital KYC service have a lesser chance of  being a scam as compared to those without any such service.

The Scale of ICO Scams

In a recent report by Satis Group LLC an independent financial and wealth management company based in New York, USA, found that 80% of ICOs are scams and a small percent actually get their coins to the exchange for trading purposes. For example, OneCoin that worked on multilevel marketing or better known as a Ponzi scheme swindled investors out of US $350 Million that resulted in the arrest of those involved. LoopX ICO is another scam; the company and owners disappeared after scamming more than US $4 million from investors. In a more recent event, Centra ICO creators swindled people out of US $32 Million. The highlight is that this ICO was promoted by boxer Floyd Mayweather and some other celebrities.

ICO Scam Warning Signs

People invest in ICOs in order to get some profit ;as the company expands and improves, the value of the coin goes up and can be traded on various exchanges. Some companies even offer dividends to coin holders, similar to what one would expect from shares that they have purchased. Others offer discounts and other benefits to the coin holder. Whatever the payback we understand that having mentioned the scale of the ICO scams, one might think that there are no legit ICOs. Although fraud protection in this case is not fool proof there are always signs that tell something is not right. All this can be easily secured with a sound Identity Verification system. Lets take a look at these warning signs:

Open Source but An Empty Repository

If the actual ICO is based on a coin or token based on blockchain technology and the creators vouch that it is open-sourced. Then you should be able to see their source code. If none is available on their GitHub or other repository that should ring warning bells.

No Team or None Mentioned

A project especially as big as an ICO has a whole team behind the entire plan that includes developers, marketers and executives. If there are no team details mentioned on their website or if the team seems weak you should double check on the images of the members to see if the individuals have a social media presence or a LinkedIn profile. You should also be able to get in touch with the team members especially the blockchain developers.

The company should have a strong online presence especially on social media platforms.

No Digital KYC Solution or Identity Verification Service

Even though there isn’t a strong fraud prevention measure on ICOs. This is one of the most powerful indicators that an ICO owner is serious about sticking around. As there are certain policies that govern the entities that store the personal information of the general public. To be compliant with the such policies the ICO owners opt for a digital KYC (Know Your Customer) service that is usually provided by a 3rd-party. So this in itself is a good sign that they are investing in a service that helps make them know their customer and comply with the rules and regulations of personal data storage. Besides that, this shows that they plan on distributing their tokens to the investors as the identity verification service that they use also acts as a proof of purchase. To avoid any mishaps and misunderstandings this is an important step on the behalf of the company that is running the ICO.

No Whitepaper, Bad Whitepaper or a Copied One

Whitepapers speak the world about the ICO in concern. A missing white paper, a badly written one and a copied one are all sure shot warning signs. It shows poor planning or rushed planning with little or no research. If the Whitepaper is good, you should still do a plagiarism check. As Whitepapers by Scam ICOs are more or less copied usually word for word from other legit ICOs.

Guaranteed Profits

Another sign that should make you scrutinise the company in concern is if they say they are giving guaranteed profits. There is no such thing in the world of cryptos as you might have picked up by seeing how volatile the market is. If you haven’t you should do your research there as well. Such an ICO could very well be a MLM or Ponzi scheme that will not last very long and result in a loss at the end.

No Plan is Poor Plan

If the company running the ICO does not have a comprehensive roadmap of where and how they will proceed afterwards then do not invest. Because they are planning short term and do not foresee themselves doing anything afterwards. This is a very powerful indicator that they’re going to bail and leave the investors clueless as to what happened.

In Conclusion

Having mentioned the warning signs of ICO scams, as a disclaimer it must be said that there is no guaranteed way to judge the intention of an individual or company. Take reference to the Centra ICO scam the creators spent a lot of money on their promotional activity by hiring celebrities. The fact that some ICO would spend so much money gives the idea that it is legit. Until the time the governments and regulatory bodies implement fraud prevention measures in the industry, the chances of fraud are relatively high. However, a company that is willing to stick around would want to avoid being non-compliant with already existing policies. Therefore, their use of a third party digital KYC and identity verification service is usually a good indicator that the company is serious about its future and its investors’ money.

Read More:



document verification fraudulent

Document Verification Services for a Secure Freelance Platform

Picture this you have recently started a freelance website you have marketed it properly and followed through on all steps to make it popular. It’s going good, you have a decent number of people posting projects and a decent number of freelancers who are able to complete them. You really haven’t had any problems, you are the middle man and you just take a small commission from both the project owner and the freelancer. The entire system is automated so you really don’t have to do a lot. Then something like this happens — you see a chargeback and its for quite an amount. You search out what the issue is and find that a freelancer has not completed his task and has also taken some amount in advance. You try contacting the freelancer to get an update but the number is turned off and you haven’t received responses to your email. You take it as a one off and refund the project owner and don’t really take any action except for disabling the freelancers account. Guess what a few weeks later you get multiple chargebacks, all for the reason that the work had not been completed. All of the freelancers had taken an amount in advance. You are worried now, the previous project owner who requested the chargeback was quite angry and did not post any other projects. You also tried contacting the freelancers but as before there was no response. Your website is getting a bad repute online and the number of tasks being posted has declined. You think about stopping the advance payment option, but argue the fact that good resources as well as certain tasks require some amount in advance and plus you made your entire marketing campaign around this. You frantically search the web for a solution, you come across an article called “ Document Verification for a Secure Freelance Platform” You start reading it and as you go through it you realise what’s been happening with your website is freelance fraud. With tears of joy in your eyes you know your prayer’s have been answered and you say to yourself “I have found the solution to my problems…“

Deterring Freelance Fraud with Document Verification

Although the above paragraph is about a hypothetical situation but still the threat is very much real, it is something that can and has happened in one form or another. So the question arises how can one prevent such a fraud from ever occurring? To answer that we need to see what was the cause for the freelance fraud in the first place. In the hypothetical case above the freelancer site probably had a registration process that a freelancer was required to fill out plus they have to make a profile detailing their expertise. That is pretty standard but there is no way to verify that the person claiming to be that freelancer is actually them, no document verification to ensure their credentials are true and real. Given that in this platform the freelancer was allowed to take something in advance it set the stage for someone to exploit this feature. The person or people involved in this fraud probably created false identities knowing that there is no check and uploaded impressive credentials and mentioned great skills. The idea itself was great and would likely attract the best of the best to apply as freelancers. This in turn would attract people or organisations who wish to get their tasks done by highly-skilled workers. The only drawback was, it was not thought through properly and did not have a deterrent to avoid this kind of fraud. The deterrent in this case could have been a 3rd-party digital KYC or an identity verification service — something that could verify the credentials and documents to prove that the freelancer is truly who they say they are.  Later in the article we’ll look at a solution and the features such a solution have.

Freelance Scam – Another Situation

Before we go on and discuss the solution to this problem it would be good to mention the same could also work to prevent another type of Freelance Scam. This would be the opposite of what happened in the hypothetical situation above, it could be quite possible that the platform itself that is providing the freelance service turns out to be a scam. This would not only affect the freelancer but also the company or individual providing the projects. Supposing that the freelance service offers an escrow meaning they keep the money until the task is completed. What if they in the end after getting all the money do a disappearing act similar to the one’s that ICOs are pulling off? What would be something that would prove that they are the real deal and not some scam? The answer is that they probably would have invested in some third party service that ensures they are compliant with KYC rules and regulations and that they are serious about who’s joining up with them. In an absence of sound Document Verification mechanism; your platform is always at risk.

So is Document Verification by a Third-Party the Answer?

The answer is a big YES, the fact that nothing adds credibility to one business or in this case freelance platform is the investment they put in to it; it shows the company is against freelance scams. Not only that but since everyone who is on boarding as a freelancer is verified through their documents. The documents are sent over to the third-party verifier and checked for signs of tampering and forgery. Their pictures are matched with those on their ID cards and checked for irregularities. The great part is that verifications can be done live using a webcam or by submission documents. The whole process takes less than a minute. So they know if they try to pull a fast one they can be highlighted and criminally prosecuted as well.  This is one of the most effective deterrents of freelance fraud.

Recommended For You:

Kyc Customer on Boarding

KYC for customer on-boarding in Telecommunications Industry

Identity Verification is quite necessary for Telecommunications Industry in today’s digital space. How? Here’s the case:

Imagine this, you’re sleeping cozily in your bed on a weekend and suddenly the doorbell rings and not just once but several times with a sense of urgency. Along with it comes loud knocking, you rub your eyes and check the alarm clock, it’s 8am. You are thinking who could be at the door this early on a Sunday morning. Anyhow sensing the urgency, you get out of bed to answer the doorbell. Upon opening you find two men at the door who show their badge and request you to come along with them to the station. You ask what this is about and they say we need to talk to you about some life-threats that have been made by you to a person. You are shocked but anyhow you ask permission to wear proper clothes and you go with them to the station. There they playback the recording that supposedly you made to this person. You tell them this is not my voice. They say the number is yours and the device is registered under your name. You tell them that your wallet was stolen a couple of months ago you tell the officers that although you had deactivated all the credit cards that you had credentials in there that could allow someone to steal your identity. They check out your story and also do some voice tests that come out clear. They allow you to go home, but before that they tell you that you should check your online account with your cellular service provider. You do that and find that a device has been added to your account from the online sight and it has your details but the payment was made via some other card. You show it to the officers they say we’ll take care of the rest and will contact you if they require any further information. You reach home extremely exhausted and ticked off, what a bad day. You call your lawyer explain what happened and ask if you can sue your cellular network provider for not carrying out proper identity verification. He says he’ll get back to you with all the details on how to initiate and proceed with the case…

Why the Telecommunication Company is at Fault for not doing Identity Verification?

The scenario above is hypothetical but it is something that happens more often than not. If we look at it the lawsuit isn’t the only case the company is going to have to deal with. The credit card that was used to purchase the device and add it to the account was most probably stolen resulting in a chargeback by the original owner.  A possible lawsuit and chargeback not to mention the bad repute, multiple problems all because the telco did not have a digital KYC (Know Your Customer) solution.  In 2016 alone, the Telecommunication companies globally suffered a loss of $300 Billion. Although the majority of this fraud was not chargebacks or stolen credit cards, you would think the companies would apply secure processes to deter the use of such cards and avoid chargebacks due to other reasons as well. This would at least allow them to prevent a certain percentage of the loss. Yet sadly, this is 2018 and not many cellular network providers are opting for identity verification solutions.

In the case above, the emotional shock the person faced, could have been avoided had such a solution been implemented. If you look at it in this day and age, even when you have logged in or are using your email account, if you make some changes the website asks you to prove your identity by asking for a pre-saved personal question or for your password again. This is just for your email. Now if a company requires details that are needed for processing payments or where money is concerned why should the company be so lax about it and not implement secure processes to deter such fraud?

How can a Digital KYC Service Provider Ensure Secure Processes?

There are several ways that KYC can secure processes associated with online transactions. These KYC services use the power of the Internet, the webcam of the customer, or the camera of their smartphone to carry out online live verifications. With that they verify the authenticity of pictures and documents that act as proof of identity. From credit cards to passports a large variety of official documents can be checked for tampering or forgery. Live face matching with pictures in documents are also carried out.

These services rely on advance AI and HI to carry out the verifications. Once the AI gives a verdict on the validity of documents. Live people give a once over to check for false positives. So when a customer enters in a credit card number before it is processed the customer is asked to verify their identity via the digital KYC service provider. The customer is also informed that the process will take less than a minute. Most of the people intending to do fraud leave at this point since they know they will get caught. Hence, KYC service providers ensure a streamlined and secure process.

How can a Cellular Service Provider get an Identity Verification Service?

Telecommunication giants such as Verizon and T-mobile offer multiple online services to their customers. This could be the option to buy packages as well as devices and to register for a connection. For a provider that handles the payment information of customers, a digital KYC solution is essential. There are many third party online verification service providers that offer an array of KYC services at a competitive price. Their identity verification solution is such that it can be integrated with 99% of today’s upcoming softwares and technology.

Recommended For You:

e-KYC Services

e-KYC Services for Libraries

Have you ever had those series of events that leave you shaking your head? That makes you believe that life is actually a Rube Goldberg machine where one small event triggers a lot many more. Well, that is exactly what happens when you get your wallet stolen, you remember to close down all your credit cards, but sometimes you forget you had other things in there as well. You go to the police station to inform them and get a report just in case something pops up. Life continues as normal then a couple of months later you get a bank statement and as you go through it you find some charges you don’t seem to remember. Confused, you call the bank and they say that you had applied for a credit card. You tell them you had applied because your cards were stolen but it was over two months ago and you had already received them. You confirm the branch of the bank and you realise you don’t do business with them. You inform that someone has stolen your identity and these are not your charges. You ask them don’t you do a complete e-KYC verification? They say the application was online and almost all required verifications were done except for an image check. Obviously they did not do a background check. After clearing the issue up with the bank you believe that things have settled down. Yet after another couple of months you get a letter from the public library you used to borrow books from. You see that there are some books that are overdue and you have been fined as well. You slap your forehead realising that you had your library card in your wallet as well. You go to the library show them the report and inform them that someone had stolen your identity. You request them that they should have some sort of verification system to deter fraud activities. After clearing the issue with the library, you hope that no other issues pop up…

How Can e-KYC and Identity Verification Deter Fraud Activities in Libraries?

KYC identity verification has become a need for online as well as physical libraries. Most of the public and private libraries around the world provide their customers with library cards that are used to keep a record of their visits to the place or if they wish to borrow books. This means that without an identity verification system installed in the library, imposters can use the stolen library cards/information at the library  They could use its resources and check out books all the while using the identity of another person as mentioned in the story above. With a simple 3rd party verification system the libraries can actually stop such fraud activities from happening. Basically, when the imposter finds out that there is an ID verification check before they are allowed to check out books, they will be reluctant to use someone else’s ID. They understand that they will get caught.

How Do e-KYC Verification Systems Work?

Most of the e-KYC verification systems are powered by AI. The AI checks and matches images and information among other things. It utilises the Internet and the user’s webcam or smartphone camera. In order to get a better understanding lets take the example of a library system. If someone wishes to check out a book online, the system will ask them to face their webcam or smartphone camera. It will inform them that this is a verification check and the session will be recorded. The system will then analyse the user’s face and check for excessive makeup, masks and any other signs that would show that someone has changed their outlook. The system is smart enough to keep into account the changes due to glasses, haircuts and facial hair. Then it will ask the user to present their library card focusing on the name. Then it will ask the individual to share their ID card and ask them to focus on picture, name, DOB and number (if applicable). The AI checks the data including the picture and matches it with what is available in the library system. The entire process takes less than a minute. Since the session is recorded, it will act as proof in case of any fraud activity. In this same way a PC for verification can be allocated within physical libraries where the borrower is requested to verify their identity.

Libraries and the Importance of Background Checks

Although background checks are not done in libraries but they should be. In fact the same system that carries out the identity verification can also check the background of the individual. The process need only be carried out initially when an individual registers with the library. The system checks the individual against global watch lists and other databases for criminal records. Such information can be considered an important part of e-KYC identity verification.

Read More:

secure online gaming

Secure Online Gaming with Digital KYC

Here is a scenario that shows the importance of having a digital KYC system integrated with your business especially when you are dealing with money in one way or another. People might think that a business such as online gaming site does not need such a solution

The Drug Dealer:

Ok here’s a situation, you’re a drug dealer and you have just delivered shipment as per agreement with your business partner in another city. You had already taken half of the amount when the deal went through and your business partner brought the amount with him. Now you want to get the remaining money but in a way that will be inconspicuous. As you don’t want to be caught in a money laundering case as it will open up the way for the law to pick up on the rest of your dealings. So what do you do? You’re trying to come with an easy way. To get inspiration you surf the Internet as you are reading an article a pop-up appears — its an ad for an online casino. Suddenly the light bulb in your head turns on and you call your business partner and ask him to a one-on-one blackjack game…

The Online Casino Owner:

The other side… You have always found luck to be on your side, you lived for betting and gambling was your career. After gaining much success you decided to open up your own Casino, but not a physical but an online one. Here you would offer multiple online games for the people keeping your percentage you also offered one-on-one games. Everyday was a good day since the house is mostly in a win-win situation. All seems good until one day the FBI walks into your office and straight up to and tells you that they need access to your player data… Seems your luck ran out.

The FBI:

The FBI’s story, one of our agents was working undercover with a drug dealer during background checks we found out that he had connections with some terrorist organisations. He recently received a shipment of drugs and forwarded them. We don’t know exactly how he is transferring the payments until now, our agent found out that he loves gambling and accesses a site, through which he gambles with his business partners. They have tracked down the location and our agents are on the way to get the required data…

The Consequences:

The online casino owner got in a lot of trouble he did not have any digital KYC system integrated into his online gaming service but since he cooperated the penalty was lessened. The drug dealer and his associates were shut down and brought to the law and luckily were stopped before they could initiate any terrorist funding.

The Importance of Digital KYC and Background Checks

As we can see in the story above, had the casino owner implemented a KYC and AML (Anti Money Laundering) solution it would have saved him a lot of trouble. The system would have carried out comprehensive background checks identifying possible threats and allowing the owner to take action accordingly. The online gaming industry is a hotspot for money laundering although there are certain policies governing the industry the chance is still there that it could be used for terrorist funding.

More Scenarios Highlighting the Importance of Digital KYC

Identity theft protection has become a necessary requirement for the online gaming industry. Many a times, players are invited to buy add-ons and perks in the online games, for which they are required to make payment using credit/debit cards. This means that validation of online transactions is in order through digital KYC verification of the players who wish to make purchases.

Fraud protection services must be employed by online gaming companies so losses through identity frauds and sham customers looking to dupe their way through the purchases are kept to the minimum. Gaming sites may also run into problems such as registration of underage individuals, which can become a headache when the regulatory authorities investigate the company’s proceedings and customers. Background checks are the way to go when it comes to solving problems like fake ages and cards.

The online gaming industry is evolving rapidly around the world and expanding with each passing day. Gaming sites have improved tremendously in terms of user experience and now, they can make it more secure by enhancing the membership security protocols. Providing different gaming sites the ease of accurate digital ID verification will increase their revenue manifold.

Recommended for you:

Health Care Industry

How AI is Transforming Fraud Prevention in the Healthcare Industry

KYC For HealthCare: Fraud is so common that there is hardly any industry that hasn’t had to bear the brunt of it. The health care industry is no exception to fraud. Medical identity fraud has some of the worst impacts on a person’s life. The financial shock alone is enough to be devastating for the victim. The emotional shock, on top of that, is significant when a person gets their medical identity stolen. The medical institution itself faces problems due to the type of fraud discussed herein. Medical identity theft is rising fast and becoming a concern for both patients and healthcare providers. However, modern technology has transformed fraud prevention in healthcare and is enabling the fight against fraud significantly. 

In the past few years, medical identity theft has risen significantly. In 2016, around 10% of the US population had their medical data compromised. Due in part to the fact that the number of data breaches in the past few years has increased exponentially. Healthcare data fetches at least 10 to 20 times more on the black market than normal identity credentials. This makes medical data more appealing for hackers and cybercriminals. The primary reason being the fact that medical records contain more information than other identity documents, including name, DOB, SSN and insurance information. What is worse is the fact that is harder to detect as it can go unnoticed until a person needs medical services. 

Source: Experian

Fraud in the healthcare industry via impersonating a person is something where some people even go so far as to copy credit cards of another person and make payments using them. Fraudsters are also known to use medical insurance details of a person to obtain healthcare benefits or buy prescription drugs. Any of these situations can prove to be seriously harmful to the victim. Not to mention that it can cause grave damage to a person’s reputation. 

Using AI for Fraud Prevention in Healthcare

Where AI has made immense progress over the years, it has also managed to improve fraud prevention systems. The same fraud prevention systems can be used to address fraud in healthcare systems. There are a number of third-party identity verification service provider. These digital KYC systems use advanced AI and HI (Human Intelligence) to pick up fraudulent attempts.

Online identity verification services authenticate individual users through document and facial verification techniques. This allows them to determine if a person is using fake or stolen credentials and thwart their attempts to defraud the system. 

How Do Fraud Prevention Systems Work?

Third-party fraud prevention solutions like Shufti Pro rely on AI and HI to look out for false positives. Simple access to the internet, a web camera or a smartphone camera enables users to carry out an identity verification check. The hospital staff simply would have requested the patient to use the camera to verify their ID and/or insurance card, while authenticating them by using facial verification.

Fraud can be prevented by us being a little more vigilant and careful with our personal information. At the same time, the various institutions that provide healthcare and handle payments need to be a bit more strict with their KYC processes. They can third-party verifiers effectively to their advantage to build fraud prevention in healthcare systems.

PriceFor Shufti Pro

Prices for Shufti Pro’s® Digital Identity Verification Service Positively Stir The Public


Heads turn towards the appealing announcement of their pricing plans; path to online fraud prevention and digital identity verification never looked more feasible and affordable

BATH, United Kingdom – November 2, 2017 – Shufti Pro®, one of the emerging connoisseurs in the online ID checking and digital KYC sphere, broadcasted their pricing plans for public knowledge earlier today. They took a step further and announced that their services will be available for startup ventures well. Rest assured, Shufti Pro’s® services and prices are definitely set to be popular with the new entrants in the industry.

The corporation came forth with their pricing not long after they got officially registered in the UK on October 31, 2017. With such strategic planning and flawless execution, it is not a wonder that many companies were waiting to come on board with them right after their enlistment.

According to the information released by the company, Shufti Pro’s® pricing list includes 3 different packs:

i) Starter Pack ($1.20 per verification, with $2500 for the one-time setup fee)
ii) Standard Pack ($0.75 per verification, with $2500 for the one-time setup fee)
iii) Premium Pack (pricing is negotiable and discussed when the established businesses contact Shufti Pro® for their KYC needs)

“We have set our rates such that they are affordable by those who require a quick and accurate KYC identity verification  services, yet don’t want a major chunk of their annual budget slashed off for these services. We understand the clients’ needs and have tailored our services to meet them as best as we can.”, says CEO, Shufti Pro®, “Also, our decision to support startups with e-KYC solution was sourced from the need to make the online businesses secure and safe from fraudulent customers/imposters. If they are careful from the beginning, they can spend more of their time and resources on their business and growing it from scratch, rather than worrying about meagre potential scammers or risks to their venture. Shufti Pro® is here to take care of that at very reasonable prices.

With such a heralded entrance into the market, Shufti Pro® is set to leave its competit
ors behind in not a long time. Its attractive pricing packages have raised an excited buzz in the industry. That is sure to push them steps ahead on their ladder of success.

EPP payment Method

EPP System® partners with Shufti Pro® for Fraud Protection Services


Need for digital KYC has compelled one of the pioneers in the payment processing industry to join hands with Shufti Pro® for an improved credibility experience through their online identity verification services

BATH, United Kingdom – October 2017 – Shufti Pro®, the Software as a Service, has partnered with EPP System® to provide more authentic and seamless credit card fraud prevention services . They aim to verify new customers at every carrier level between bank-to-bank payment transfer. Banks provide a budget to the PSPs, which then equally distribute the budget between their many retailers. Those retailers then provide services to the merchants, completing the chain.

EPP System works to endow their customers with safe and secure monetary transactions between banks. They have opted Shufti Pro’s e-KYC services to integrate at each carrier level mentioned above. Every step will be separately checked for fraudulent consumers so no discrepancy occurs, disrupting the transfer processes.

CEO, Shufti Pro® said:

“Our goal is to provide Electronic Payment Services to our rather sizeable number of customers. Opting for Shufti Pro’s digital ID verification services has allowed us realise our aim in a secure, accurate and efficient manner. We’re extremely proud to present them with quick KYC online verification services so they can enjoy the fast and effective experience seamlessly.”

Shufti Pro aims to make the digital markets secure through ID checks online, so all high-risk transactions can be performed without the added apprehension of fraudsters and swindle connections. The rising star in the Mastercard theft protection and Visa card fraud prevention aims to get established as a symbol of the clients’ go-to service when in need. The successful integration of artificial and human intelligence has not only raised security protocols’ standards, rather have managed to attract more traffic to the SaaS owing to greater client satisfaction. Likely, Shufti Pro’s days in the sun have just begun now that they have EPP Systems as their on-board clients.

shufti pro due books

DueBooks® integrates Shufti Pro® for Business Verification Services


Improved KYC protocols, superior ID verification services and reduced on-boarding time compels the new entrant into the startup world to adopt Shufti Pro® for protection in the highly vulnerable cyberspace

BATH, United Kingdom – October 2017 – Shufti Pro®, one of the rapidly growing online identity verification Software as a Service (SaaS), has made public that after the huge success of EPP System’s® implementation of their services, now DueBooks® has decided to follow in their lead and embrace Shufti Pro’s® real-time ID verification technology for a simple, secure and fast paced on-boarding process.

A month ago, DueBooks® employed Shufti Pro®’s services to act as a security screen and help them verify customers’ identities. During this time, a sizeable number of potential consumers were verified and the results from the company’s survey show 90% reduced on-boarding time due to digital KYC compliance. The results go on show that numerous dubious customers were rightly stamped out during the screening process, preventing considerable potential losses to the startup.

CEO, DueBooks® said:

“For a novice company like ours, digital identity verification services from Shufti Pro® have proved their worth by increasing our fraud-free client base, enhancing our on-boarding process and developing a trust between us and our customers. With a boost in sales, and the amplified quality of our services, DueBooks® has been able to form strong foundational basis, and looks forward to quite a bright future.”

Shufti Pro® works with some of the most promising emerging start-ups, businesses and enterprises, helping them quickly and accurately uphold the Know Your Customer compliance . For every business, regardless of their level, Shufti Pro® believes that fraud prevention must be the foremost concern. They make this come to life through the use of artificial and human intelligence. Checking the authenticity of their customers has proved to be of immense importance for DueBooks® due to Shufti Pro’s® 99% accurate results, cost & time effectiveness and appropriate confidentiality and security measures.

Secure identity verification services have streamlined DueBooks’® digital HR and cost-accounting system through substantiating their clients as well as their employees using their legal credentials and performing ID checks on them. DueBooks® is rapidly covering milestones towards becoming an established business by performing efficient team & project management, attendance reports formation, invoice/expenses/salary administration, etc. for themselves as well as other companies. The manual resources previously consumed during these errands are now put to a better use of building up their business using Shufti Pro’s online fraud prevention tools.

Read More: ducted air conditioning Sydney

DueBooks® can be used by many different companies, who can use it to validate their customers/employees as well. The swiftly progressing startup can now work on their business rather than in their business. The latter chore has been taken up by Shufti Pro® and both have joined hands for a fruitful collaboration for online fraud prevention and digital KYC purposes.

More posts