Blogs

Five Ways to Tackle the Growing Money Laundering Problem

Banks, financial institutions, and other organizations face countless challenges every day to keep their business secure from fraud. Keeping track of all the anti-money laundering regulations and making use of the latest and efficient technology to tackle the money laundering problem can be tough. This is basically an endless battle against fraudsters who try to […]


Read More
how to deal with money laundering problem

What Is AML: DIRO’s Role In AML Compliance

Anti-money laundering (AML) is a set of laws, regulations, and proceedings that were made to prevent criminals, cyber attackers, and even businesses from disguising funds acquired using illegal methods as legal money.  Firstly, the illegal funds are covertly introduced into the legit financial system, then the money is moved around so the government and regulating […]


Read More
AML Compliance

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 […]


Read More
how do mortgage lenders verify bank statements

Blockchain for Fraud Prevention: How Blockchain Works?

Blockchain technology has been around for a long time, and it is still growing. A lot of people wonder how does blockchain secures data and how blockchain works. Regardless of all its benefits, there are a lot of mixed feelings towards blockchain technology. It doesn’t matter how mixed the reviews of the technology are, the […]


Read More
blockchain

How to Prevent Fraud in KYC/AML for Online Business?

Due to the digitization of the world, the interactions between businesses and consumers are on the rise. As businesses are switching to digital methods of transactions, commerce is becoming global instead of sticking to one particular region. With the rise of digital services, the problem of document verification and how to build trust among your […]


Read More
kyc

Using Blockchain Technology for KYC Verification

Blockchain is a good solution for KYC verification, not a lot of people would agree with it but using blockchain for KYC is a crucial step in ensuring secure and fast compliance. With the pandemic changing industry standards, KYC automation stands to revolutionize payments, customer onboarding, and so on. It only makes sense to use the […]


Read More
blockchain for kyc

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 […]


Read More
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 […]


Read More
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 […]


Read More
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 […]


Read More
credit card fraud prevention