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 around including 5 key steps that can help in fighting multiple cases of fraud. Fraud is Growing in Quality and Quantity […]

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anti fraud strategies

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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Ali Dia Fraudster

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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why do business need document verification

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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international customer onboarding

How Ideal Digital Customer Onboarding Can 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 and by exploiting the ID verification program. Businesses, banks and FIs need to employ the best risk management program to detect […]

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risk management program

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 aml compliance can reduce risk

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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how to verify proof of address

How DIRO is Changing the Online Document Verification Landscape?

The rise of digital banking services, ACH payment, and third-party payment providers have changed the face of banking. The needs of customers are an ever-changing concept and to facilitate those needs, the financial industry is trying to offer faster and more secure transactions. To enjoy the benefits that come along with digital banking transactions, banks […]

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Why DIRO is the Best

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 digital and cashless economy instead of old methods of cash and cheque. These latest payment methods are crucial for building vital cash flow for businesses […]

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aml compliance challenge

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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how to prevent identity theft