Fraud Prevention

4 min read Jun 2, 2022

Multi-Accounting: is your business at risk?

Multi-accounting is a number of accounts on one site (a social network, a special online service, and so on) that are managed by one person. It is used in completely different areas — for working with social networks, online shops, bets, and token sales. Users create dozens of accounts and, accordingly,

Technologies

3 min read May 27, 2022

How NFC Technology Might Be Applied for Verifying Customers

-------------------------------------------------------------------------------- The technology of NFC is becoming more common today and this is just a matter of time before everyone starts applying it for the identity verification procedures. Will it be efficiently applied, and what benefits such NFC-based technologies might potentially bring to your enterprise? Keep reading to figure this

Legal & Compliance

4 min read May 4, 2022

Combating Fraud in The Field Of Finance

The problems of ensuring the economic security of any state are increasingly attracting the attention of the authorities, the public, and the scientific community. Economic security is a complex category reflecting all levels of public life. A high level of financial safety can be achieved only if effective methods of

Use Cases

4 min read Apr 26, 2022

The identity verification process for sports betting and online gambling

The identity verification process for sports betting and online gambling. Why does ID verification matter for sports betting and online gambling?

Technologies

5 min read Apr 18, 2022

An Insider’s Look at RegTech

-------------------------------------------------------------------------------- Many who are knowledgeable about Know-Your-Customer (KYC) and Anti-Money Laundering (AML) come from a financial institution background.  They have a keen awareness of the challenges in maintaining high standards of compliance.  These requirements apply not only to banks but also to companies and platforms that partner with credit unions

Legal & Compliance

4 min read Apr 14, 2022

What do you need to know about sanctions and how to avoid risks

-------------------------------------------------------------------------------- The tense international situation provoked the introduction of new sanctions restrictions. A natural question that arises for every entrepreneur is how to find alternative solutions. How can they continue working given the current situation? To answer these questions, it will be necessary to consider several important innovations that will

Fraud Prevention

5 min read Apr 12, 2022

What is money laundering and how do you protect your assets?

-------------------------------------------------------------------------------- Money laundering is a problem that will not lose its relevance in 2022. Financial transactions involve "money mules". These are people who receive money from a third party into their own account and transfer it to another person or company. Transactions are usually done online. However, it

Kycaid platform

5 min read Apr 10, 2022

Why is classic KYC not enough to meet all business needs?

Protecting the business from risks and rash steps is what the head of every large company thinks about. Cooperation with unproven brands or clients can not only ruin the reputation but also cause irreparable damage. That’s why many people use the KYC principle ("know your customer"), which

Fraud Prevention

3 min read Apr 8, 2022

Digital fraud trends 2021

Overview According to the US consumer credit agency TransUnion, the number of cases of digital data fraud increased by as much as 800% in 2021. Recently, an expanded annual report of the company on such abuses was published. It says that the fastest growing type of digital fraud is a

Legal & Compliance

2 min read Mar 17, 2022

Identity proofing: what is it and what is it needed for?

-------------------------------------------------------------------------------- Security systems have become part of our daily life. To unlock our phone, we use face recognition, and to enter the banking application, we use a fingerprint. Hospitals, financial institutions, our phones – all of them use a recognition system to ensure that you are the owner of the data

Technologies

5 min read Mar 15, 2022

Identity verification

Introduction for the newbies -------------------------------------------------------------------------------- What is identity verification? Identity verification is used in various fields, from banking institutions to hospitals. After passing the check, the person confirms that it is he who performs specific actions and this is not an attempt to cheat. This system is used by financial

Legal & Compliance

2 min read Mar 15, 2022

KYC Pros and Cons

-------------------------------------------------------------------------------- Banks and cryptocurrency exchanges, the activities of which are based on financial transactions, resort to the “Know Your Customer” system. The KYC rules ensure verification of a person's identity for participation in illegal organizations, seized accounts, or possible sanctions. Before making your first transaction, you need to

Legal & Compliance

2 min read Mar 14, 2022

How does knowing your customer process work?

-------------------------------------------------------------------------------- All financial companies use KYC as a set of requirements for identity verification. Thus, banks and crypto exchanges know who is registered on their platform and uses their services. Let's take a closer look at the verification process. While it differs from company to company, the purpose

Technologies

10 min read Mar 11, 2022

Face Recognition Technologies

-------------------------------------------------------------------------------- What do we actually know about Face Recognition Technologies? You deal with face recognition technology almost every day, but you hardly ever really thought about it, do you? The first thing that comes to mind is a face ID to unlock your mobile phone, which obviously from the title

Fraud Prevention

4 min read Mar 7, 2022

Qualified electronic signature

-------------------------------------------------------------------------------- Today you can certify documents with a digital signature. This is the safest way of verifying your identity among all the others. It means that the person who signs the document is thoroughly familiar with its content and agrees with it. The algorithms for developing a qualification signature are

Legal & Compliance

2 min read Mar 6, 2022

Introduction to KYC

-------------------------------------------------------------------------------- What does KYC mean? KYC is an identity verification procedure used by all financial institutions from crypto exchanges to national banks. Know Your Customer identifies a person for security purposes and builds trust between customers and service. This system was created as a means to stop financial transactions for

Fraud Prevention

3 min read Mar 3, 2022

Why is video identification more secure than face-to-face?

Explore how video identification boosts online security by enabling real-time, reliable identity verification, eliminating the need for in-person checks

Fraud Prevention

5 min read Mar 3, 2022

Deepfakes and online identity verification

Identity falsification occurs in all areas. You might have seen face replacement technology on the Internet when someone used the faces of famous people to create videos. The usage of artificial intelligence has made this method dangerous in many areas. That is the reason for the dissemination of false information,