What is Transaction Fraud and How to Prevent Transaction Fraud?

Today, people can use business services globally. Digital transactions allow consumers to connect with brands all over the world and take advantage of eCommerce opportunities. Building trust in digital commodities is ideal for your business to succeed. Businesses don’t know who exactly they’re transacting with. So, transacting online requires verifying identities and preventing online transaction […]

5 Ways to Fight First Party & Synthetic Identity Fraud

Synthetic fraud and first-party fraud is becoming a major challenge. Both first-party fraud and synthetic fraud are hard to detect. In this guide, we’ll dive deeper into how banks and telecom organizations can identify these types of fraud without adding friction to the process of real customers. The biggest problem with first-party fraud is figuring […]

Knowledge-Based Authentication (KBA) Guide

Knowledge-based authentication or KBA is an authentication method that relies on a series of questions to verify a person’s identity. KBA is one of the oldest authentication methods to prevent fraud. Without answering a series of questions, a user can not access the account. KBA at its core indicates that it’s a type of authentication […]

What is Regulatory Compliance?

Regulatory compliance by its definition is an organization’s compliance with local and global rules and regulations. If an organization fails to comply with regulations, it can face legal troubles and huge fines. Some of the biggest examples of compliance laws and regulations include: Based on the nature of the business, every organization has to follow […]

Know Everything about Data Risk Assessment

In today’s digital world, safeguarding sensitive data is crucial for businesses. One key aspect of data protection is conducting a thorough Data Risk Assessment (DRA). This comprehensive guide will walk you through the importance of DRA, its benefits, and a step-by-step process to conduct one efficiently. Understanding Data Risk Assessment Data Risk Assessment is a […]

Third-Party Due Diligence Proces – Everything You Need to Know

Due diligence is the primary part of building a business relationship. Be it an individual or entity, conducting due diligence helps a business analyze the amount of risk associated with someone. In compliance, the term is often related to third-party due diligence. Conducting due diligence allows compliance teams to make informed decisions on whether or […]

third-party due diligence best practices

ID Verification for Wealth Management Companies

In today’s fast-paced digital world, where financial transactions occur across borders and online platforms, the need for robust identity verification has become paramount. Wealth management companies, tasked with safeguarding the assets and interests of their clients, face increasing challenges in combating fraud, money laundering, and identity theft. In this blog, we will explore the importance […]

Understanding Ultimate Beneficial Owner (UBO) Verification

The Ultimate Beneficial Owner (UBO) is someone who owns or controls a business or owns a legal entity. Financial institutions are legally obligated to gather information on UBOs and the amount of risk that is associated with them. Financial businesses need to achieve regulatory compliance and enhance business security to handle risks that come along […]

Link Analysis for Fraud Detection

Link analysis is a powerful analytical technique that allows us to examine the relationships between entities or objects. In the context of fraud detection, link analysis can help us identify connections between individuals, transactions, and other data points that might indicate fraudulent behavior. In this guide, we’ll explore what link analysis is, how it works, […]

Making Great Customer Onboarding Experience

Even though we’re past the pandemic, its impact on digital experiences can’t be underestimated. It has changed how people access financial services. The digital revolution has increased the number of people who use a range of financial services across the globe. It has significantly impacted how people send and receive money, borrow, and save. With […]

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