Blogs
Building the future of fintech.
5 Must-Know Anti-Fraud Strategies To Reduce the Risk of Fraud
Online fraud poses enormous risks, many financial institutions don’t have the procedures and effective systems in place to tackle fraud. No anti-fraud procedure is 100% foolproof. Regardless of that, there are some anti-fraud strategies including 5 key steps that can help in fighting multiple cases of fraud. Fraud is Growing in Quality and Quantity Customers […]
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Ali Dia: Premier League’s Most Well Known Fraudster
The OG football fans know all about Ali Dia, and why wouldn’t they? Ali Dia became famous among the premier league fans globally with just one match. Not for the good reasons though, he played for a good 53 minutes and it was clear that Ali Dia wasn’t built for football. Let’s go deeper into […]
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Why Reliable Digital Document Verification Services are Vital for Business Operations?
Digital transformation is at an all-time high and all the organizations are switching to digital methods instead of physical ones. The process of digitization has sped up due to the global pandemic and businesses being forced to operate using online methods. With more and more customer interactions taking place online, the potential for online fraud […]
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International Client Verification: Verifying Customer Identity Online
The growth of digital banking platforms and online solutions is the key for businesses to grow by onboarding international customers. Remote international client onboarding costs businesses the most time and causes the most problems. Banks that extend their services outside of their domestic region, tend to lack the resources for verifying customer data. Complicated KYC […]
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How Can Ideal Digital Customer Onboarding Lend a Helping Hand In Reducing Fraud?
In the last year itself, the FTC (Federal Trade Commission) received over 2 million fraud reports, which led to losses of over $3.3 Billion. Fraudsters can run a scam to trick the onboarding process by exploiting the identity verification program. Businesses, banks, and FIs need to employ the best risk management program to detect and […]
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What’s Next for the AML Regulation? Fraud Prevention and AML Compliance
The landscape of AML regulation is vast and diverse, and to prevent fraud the financial industry needs to keep up with the ever-changing rules and regulations. On January 1, 2021, the National Defense Authorization Act passed a new act containing a variety of defense and national security matters. This act included reforms to US anti-money […]
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How to Verify Proof of Address for Digital Banking Industry?
As soon as the pandemic hit the world, the Federal Trade Commission (FTC) complaints about identity theft quadrupled. Similarly, loan account fraud loss grew from $400 million to $3.4 billion in 2019, and to make matters worse, banks and credit unions are losing more and more money to synthetic identity fraud. Customer identity verification is […]
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Handling the New AML Compliance Challenges With Latest Payment Methods
The global prepaid card market will reach $3.65 trillion by 2022. It is also expected to grow more based on the advancement in technologies and with customers slowly moving towards a digital and cashless economy instead of the old methods of cash and cheque. These latest payment methods are crucial for building vital cash flow […]
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What Is Identity Theft? How to Prevent ID Theft Online?
Identity theft is when someone steals your personal information and uses it for financial fraud. There are multiple types of identity theft and each type can affect you differently. Almost all types of identity theft lead to financial loss. The cases of identity theft are growing every year with the rise of new technology, and […]
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AML Compliance Guide: What Are The Best Practices for Anti-Money Laundering?
Finding and following effective AML programs to ensure Anti-Money Laundering compliance throughout organizations is crucial for all businesses. Keeping up with effective AML policies, procedures, and utilizing the latest technologies can assist an organization in protecting itself from money laundering. However, not every organization follows the best practices for anti-money laundering compliance which can cause […]
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