Importance of Compliance Management

No business can survive without a list of rules and regulations. To maintain this compliance, businesses have to follow the rules and regulations that are related to their industry. Businesses consider “maintaining compliance” a challenge as the rules are always changing. If you fail to stay up to date on these compliance rules, it can […]

Managing Online Payment Fraud Efficiently

Banking has become digital. The payments sector has been especially impacted by digitization. But with the growing use of digital payments, fraudsters have found a new avenue for success. According to a 2022 payment fraud study, merchants spend an average of 10% of eCommerce revenue on fraud management. Every merchant and business needs to manage […]

What is Good Standing Verification and Why Does Your Business Need It?

Almost every business is asked to provide a good standing verification certificate. Only the state can issue the good standing certificate verification. It’s one document that every business should be able to provide when asked for it. Every business, LLC, or any other entity needs to have a good standing status in its records. This […]

Proof of Address Verification in Vendor Onboarding Guide

Onboarding a vendor without having proper guidelines in place can severely impact your business. Vendor onboarding fraud and the consequences that come along can be fatal for a business. So, how can you know the vendor you’re onboarding is the right is not a fraud? Every business regardless of its nature of business needs to […]

address verification during vendor onboarding

5 Things You Need to Keep in Mind While Integrating Digital Payments

Digital payments have become the norm when it comes to consumer finance. According to some new reports, emerging payment methods such as account-to-account payments, digital wallets, and Buy Now, Pay Later. More than 80% of all consumers have used digital payment methods in the last 1 year. This number is expected to grow to 93% […]

Detecting and Preventing Fraud During Vendor Onboarding

As businesses globally are understanding the importance of employing additional fraud prevention methods, it has led to a dramatic fall in fraud rates. Handling the aftermath of fraud is becoming super expensive for businesses. This is why the adoption rate of new technologies and compliance rate is improving. Unfortunately, even after several significant changes in […]

Five Major Steps for Strengthening your ID Fraud Prevention Strategy

Customers demand a safe and secure environment. This means providing protection from data theft, Identity protection, protection from account takeover fraud, and more. But, this is 1not a one-sided process. Both organizations and customers need to follow practices that keep them safe online. One of the best things that banks and other businesses can do […]

KYC and AML Risk Assessment for Customer Onboarding

When onboarding new customers, financial institutions must balance the need to mitigate risk with the necessity to keep the customer experience frictionless. To that end, AML/KYC risk assessment is critical for onboarding new customers. Indeed, financial institutions are under increasing pressure to meet regulatory standards while making the customer onboarding process frictionless. The combination of […]

Enhanced Due Diligence: How Important is it for Banks?

In today’s business and regulatory climate, a business has to take all precautionary steps to prevent fraud. This means identifying and verifying customers’ identities and meeting KYC guidelines. Whenever a financial institution starts a new business partnership with individuals or organizations without fully knowing their past and present business dealings, it can open the business […]

Crypto Regulations in Canada & U.S: Latest Updates and What You Should Know

The regulatory landscape for cryptocurrencies has been changing rapidly in the past few months. New regulations, along with old ones, have also come into force. In this article, we will be discussing the latest developments in the crypto regulations landscape in Canada and United States. The concerns around potential risks arising from investing in cryptocurrencies […]

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