How to Enhance Vendor Onboarding Process: Best Practices, Process, and Rules to Follow

Vendor onboarding is a tricky yet extremely meticulous process. Supplier relationship management is a systematic process that allows businesses and organizations to collect documentation and data to qualify, approve, and contact vendors, purchase goods or services, and make timely payments to supply partners. Vendor onboarding compliance is tough as numerous steps are involved. A vendor is […]

What is Sanctions Screening – Its Importance for Financial Institutions?

Sanctions screening is a crucial part of the eKYC process. eKYC is when a business onboard a customer/business digitally. This process is necessary for financial institutions and other businesses looking to onboard customers globally. Using eKYC, businesses can minimize risks, prevent fraud, and meet compliance. In this blog, we’ll talk about Sanctions screening and its […]

What is shared intelligence? How can it improve consumer trust?

Fraud prevention isn’t just about ticking off the regulatory boxes, ID fraud prevention is the most important factor for businesses today. According to a report, over 70% businesses consider identity and fraud prevention as a part of their unified business strategy. The combined cost of ID and fraud due diligence is lower than the average […]

How to Fight ID Fraud in a World of Generative AI?

Generative AI is the buzzword of the year, apart from all the good that comes from it, it also has increased the risk of fraud. Fraudsters have been using AI tools to defraud people. Most businesses today are ill-prepared to fight GenAI ID fraud. In this blog, we’ll be talking about how to fight ID […]

Online Financial Fraud Trends 2024 – What You Need to Know🤔

2024 has been a turbulent time for financial safety. Fraudsters are finding new and innovative ways to commit fraud. With cutting-edge technologies, fraudulent organizations are exploiting the digital financial ecosystem. Businesses that want to combat or prevent online fraud proactively must rely on sophisticated technologies. To keep your business protected, here are the fraudulent trends […]

How does Bonus Abuse Fraud Work in iGaming and How to Prevent It?

The iGaming industry, encompassing online casinos, sports betting platforms, and poker rooms, uses a wide range of bonuses to attract and retain players. These bonuses come in various forms such as welcome bonuses, no-deposit bonuses, free spins, and loyalty rewards. What is Bonus Abuse Fraud? Every single casino out there offers these promotions as they […]

Social Security Number Verification

A Social Security Number (SSN) is a crucial identification method in the United States. Applying for government services, taxation, and employment is almost impossible without verifying an SSN. Businesses need to verify the legitimacy of an SSN before conducting business and onboarding customers. In this blog, we will explore everything you need to know about […]

How Identity Verification is Set to Replace Notaries?

Even in the legal industry, constant innovation is changing how basic work is handled. The latest technology is reshaping traditional practices and bringing forth the use of time-saving and efficient practices. One change we’re witnessing in the legal industry is the slow but imminent replacement of notaries. Why? Because businesses everywhere are relying on the […]

Common Challenges with Video Chat Identity Verification

Video chat identity verification has become an increasingly popular method for online identity verification. Businesses from all over the world use video calls to verify the identities of consumers before onboarding them. Video chat ID verification is a convenient way to confirm someone’s identity by comparing their face to a government ID. But while it […]

Using Artificial Intelligence to Counter Financial Fraud

As the financial industry has focused on integrating technology into its offerings, they have been plagued by financial fraud. Financial fraud significantly threatens individuals, businesses, and economies worldwide. As fraud evolves, financial institutions must leverage the latest tech as a countermeasure. One of those latest technologies includes artificial intelligence to detect financial fraud. In this […]

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