What Is The Complete KYC Procedure For Merchant Onboarding Process?

Finishing the merchant onboarding process comes with its fair share of risks such as fraud, excessive chargebacks, money laundering. To save businesses from this series of frauds, regulatory guidelines and rules are set in place to reduce the risk of fraud. Know Your Customer or KYC is a set of due diligence rules that has […]

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merchant onboarding kyc

Why Anti-Money Laundering is Important for Financial Institutions?

Money laundering is a type of financial fraud, and it affects the global economy in a huge way. Criminals try to hide their illegal money from regulatory bodies, disguising their origin and convert the money into legal funds. Every year, losses due to money laundering equal 2-5% of the global economy ($800 million – $3 […]

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anti-money laundering

How to Get a Proof of Address in The UK?

Opening a new bank account or applying for a loan? The first thing that you need to prove is your address. One of the primary things to do is to provide valid proof of address in the UK. Specific documents are needed to prove your ID, such as a passport, a driving license, or by […]

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how to get a proof of address in the uk

Best Practices to Prevent Credit Card Fraud

Credit card fraud was the most frequent type of fraud reported in 2020 according to the federal trade commission. And the amount lost annually to credit card fraud, a staggering $149 million. While it’s vital to ensure the security of their financial accounts, if you do end up being a victim of credit card fraud […]

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credit card fraud prevention

Wire Transfers and Best Practices to Avoid Wire Transfer Fraud

All of us have heard the term wire transfer being thrown around in fancy movies and shows. Wire transfer is one of the most popular methods of moving money from one place to another. In actuality, do you know what is wire transfer and how do wire transfer work? Whether you’re sending the money to […]

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how to avoid wire transfer fraud

AML Technologies: Helping Businesses Stay Compliant

For most people, money laundering is a crime that just happens in movies, TV shows as it doesn’t have anything to do with them. Unfortunately, money laundering is a huge problem for businesses all over the globe. Other types of financial fraud are also common for businesses, especially financial services and FinTechs that allow users […]

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Best Practices and Strategies for Fraud Prevention

With global fraud rising beyond control, it’s vital that organizations implement effective fraud prevention policies and procedures that provide security while ensuring a quality customer experience. With the best practices for fraud prevention, businesses can onboard customers quickly and seamlessly. In the year 2019, the loss because of identity fraud in the U.S was estimated […]

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best practices for fraud prevention

API zur Verifizierung des Bankkontos: Welche Möglichkeiten hat Ihr Unternehmen?

Der Online-Zahlungs- und ACH-Branche fehlt die Autorisierungskomponente, die normalerweise bei Kreditkarten verfügbar ist. Im Gegensatz zu Kreditkarten, bei denen Benutzer autorisieren können, während sie die Zahlung der Kunden über ihre Karten vornehmen, kann die ACH- und Scheckverarbeitung die Bankkontoverifizierungs-API erfordern, um das Zahlungsrisiko zu mindern. Wenn wir über das Onboarding neuer Kunden sprechen, kann ein […]

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Avoiding Money Laundering Risks in Cryptocurrency Industry

In a couple of years, cryptocurrencies have exploded and are being used for transactions around the world. Due to its core nature of anonymity and lack of regulation, the cryptocurrency industry soon became the hub for illegal activities, the majority of which consisted of money laundering. Since the industry was being targeted heavily, crypto businesses, […]

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Avoid Risk of Money Laundering

KYC & AML Guide for Crypto Businesses

Money laundering is a huge threat to the global economy and unfortunately, cryptocurrency has become the magnet for fraudsters looking to launder money with minimal friction. Ever since it started growing, the crypto industry has become holy ground for money laundering and terrorist funding. To disrupt the flow of money laundering and terrorist funding, regulatory […]

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KYC & AML Guide for Crypto