04 Apr
KYC Compliance – What Is It and How to Do It
KYC Compliance KYC Compliance: Upholding Trust, Protecting Integrity KYC (Know Your Customer) compliance service is a process through which businesses verify the identity of their customers and assess the potential risks involved in doing business with them. This is typically done to comply with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations, as well as
28 Mar
Credit Suisse and the consequences of bad customer due diligence
Identity Verification, KYC Credit Suisse and the consequences of bad customer due diligence The high-profile scandal that shook the financial world continues. Credit Suisse, a financial firm in Switzerland, was accused, based on an international investigation by the German newspaper Süddeutsche Zeitung and Organized Crime and Corruption Reporting Project, of failing to apply due diligence
09 Mar
The Benefits of using a video KYC service
Identity Verification, KYC The Benefits of using a video KYC service In times of global digitization, identity verification is essential. A Video KYC service can be one of the main parts of customer onboarding. By using a service like that, institutions that require verification of customer can maintain higher security, and their customers are guided through
27 Jan
COVID-19 Tests With Video Observation
The global outbreak of the COVID-19 in the beginning of 2020, has caused a major disruption in the way the world works. The way customers join, operate and use platforms and services has undergone a massive transformation due to numerous lockdowns, which resulted in a growing number of online users and customers worldwide. Handling finances
20 Jan
Why Do We Need Customer Due Diligence?
Identity Verification, KYC Why Do We Need Customer Due Diligence? Growing strictness of compliance regulations means that companies must improve their customer onboarding processes. That’s why, when running a company related to finance, it is worth having a documented CDD procedure in place. Customer Due Diligence allows checking what kind of customer we can deal
09 Dec
2021 KYC AND AML Regulations Roundup
Identity Verification, KYC 2021 KYC and AML Regulations Roundup As 2021 comes to an end, let’s look back at what changes this year brought when it comes to AML and KYC regulations, rules, and policies around the world. It is safe to say that the year following 2020 – the time marked by the impact
04 Nov
National ID Cards – Trends and The Future
What is an identity card and what is its purpose? The history of passports and national identity cards slightly differs. The shape and format of the majority of today’s identity cards was only standardized in 1985, as opposed to the passports’ standardization in 1920. In the past decade, however, the national identity card documents went
24 Sep
The History of Passport Photography
No hats, no glasses, and no face expressions such as smiling or frowning allowed. Bright, plain background, straight posture, no glares or shadows visible. Those are some of the most common official ID picture requirements globally. The standards regarding ID photos around the world are pretty similar, despite every country having their own set of
06 Aug
Examples of the biggest KYC & AML compliance failure cases
Designed and created by pch.vector – freepik.com Strong KYC and AML strategies put into place are one of the most important things for businesses of any size. Whether a start-up or a well-established developed global corporation, the same rules apply to everyone in some industries. Depending on the industry and the regulations that apply, the
15 Jul
Everything you need to know about face verification
We see hundreds of faces every day. They look at us from the screens of phones, on social media platforms, we see them at work, at home, on the tram, and in the park. Human faces are such an obvious visual element for us, that we don’t think about how our brain recognizes and identifies
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Fully-Verified was created as answer to its founders collectively losing over $150 000 to various types of fraud in their eCommerce businesses.
