Proof of Income Verification – Common Documents Used for POI Verification

Proof of income is a critical requirement in various financial and legal transactions, from securing a loan to renting an apartment. Lenders, landlords, and government agencies often request proof of income to assess an individual’s financial stability. While there are several documents that can serve this purpose, verifying their authenticity is equally important. In this […]

documents for proof of income verification

Refund Fraud – What is it & How to Stop It?

Refund fraud is not just an occasional inconvenience; it’s a well-organized and increasingly sophisticated crime that drains billions of dollars from businesses each year. Unlike chargeback fraud or phishing, refund scam happens after a legitimate purchase has been made, making it harder to detect and prevent. Fraudsters are exploiting the weaknesses in refund policies and […]

What is EIN Verification in KYB Compliance?

Employer Identification Number or EIN is a type of Tax Identification Number (TIN) that’s issued by the IRS in the US for businesses. EIN is crucial for KYB compliance as it helps in proving that a business is operating legally. Including EIN in the KYB verification process helps in verifying whether a business has a […]

Guide to Protecting Yourself after an SSN Data Breach

SSN (Social Security Numbers) data breaches have become common, and they expose the victims to cyber-attacks and identity theft. Social security numbers are one of the most sensitive pieces of personally identifiable information, leaving the victims vulnerable to all kinds of frauds. How Does an SSN Data Breach Happen? Recent data breaches highlight vulnerabilities in […]

How Do Mortgage Lenders Check & Verify Bank Statements?

If you seek a mortgage for buying a new home or for refurbishing, it has to be approved by a mortgage lender for you to get your loan. One of the major factors involved in loan approval is the verification of the borrower’s financial information, but how do mortgage lenders verify bank statements for loan […]

how do mortgage lenders verify bank statements

The Complete Guide to Balance & Audit Confirmations

Balance & Audit confirmations are highly misunderstood when it comes to auditing. For businesses to boast about financial accuracy, balance & audit confirmations are absolutely necessary. In this guide, we’ll break down everything you need to know about balance audit confirmations. What Are Balance & Audit Confirmations? At their core, balance and audit confirmations are […]

Open Banking Tools to Prevent Audit Breaches

Audit breaches & failures have become a normal occurrence. However, most of the breaches are unintentional, they’re caused by inadequate audit tools. Recent audit failures are teaching businesses that a lack of proper audit frameworks can be catastrophic. Failing audit breaches leads to huge fines for non-compliance. Businesses can avoid financial, legal, and reputational damages […]

Social Media Scams: Navigating the Risks in a Digital Landscape

Social media has become a major part of our lifestyles. They impact our shopping decisions, our worldviews, and much more. For businesses, social media acts as a platform where they can interact with their audiences anytime. Every month, billions of users engage with each other on social media. However, there’s a dark side of social […]

Document Fraud: Detection and Prevention

In today’s fast-paced, technology-driven world, document fraud has become a significant threat affecting various industries. Document fraud is an umbrella term that encompasses a lot of illegal activities, such as: Such actions do not hurt the integrity of personal, financial, and institutional information and also lead to devastating consequences for individuals and businesses alike. The […]

What is a Data Breach? All You Need to Know

Data breaches have become incredibly common in recent years and they keep businesses on their toes. Businesses need to know what a data breach is, how to prevent it and keep sensitive information safe. In this guide, we’ll dive deep into what is a data breach and tips to prevent it. What is a Data […]

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