The Advantages of Identity Verification: How It Can Benefit You
At its core, identity verification is the process of confirming the identity of an individual or entity. It is a crucial step in preventing fraudulent activities such as identity theft, financial fraud, and money laundering. In today’s digital age, where data breaches and online frauds are rampant, identity verification has ... Read More
Why IDcentral’s AML Screening solution is dubbed End-to-End AML Compliance
What exactly is AML? The term Anti Money Laundering is abbreviated as AML. It is mostly used in the financial, legal, and compliance sectors to define the standard procedures that firms and organisations must implement in order to detect, identify, and report suspicious money laundering behaviour that may occur while ... Read More
Europe Digital ID Wallet: How Digital Identity is changing the World
Europe’s new Digital Identity wallet offers inhabitants and companies a digital ID they can rely on, it acts as a tool which not only verifies and stores ID data but also enhances the application of the data for ease of use. The European Digital Identity will be held in a ... Read More
Cybersecurity Awareness – Protecting Your Digital Identity
Perhaps you have recently seen some shocking statistics concerning the prevalence of identity theft, or perhaps you have a close friend who has gone through a terrible and stressful fraud situation. Even worse, you could already be familiar with the terrifying consequences of identity theft. Whatever the situation, you probably ... Read More
Money Laundering in the Metaverse: NFTs, DeFi
According to a recent analysis, 17 million Ethereum transactions between Q4 2017 and Q1 2022 were associated with both criminal and licit operations. The overall cyber money laundering activities increased by 30% in 2021 compared to 2020, with hackers laundering a total of US$8.6 billion in cryptocurrencies. During this time, ... Read More
What is Customer Due Diligence? How do you use KYC checks to comply?
Financial organizations employ the process of customer due diligence to gather and assess pertinent data about current and prospective clients. By analyzing data from many sources, it seeks to identify any possible risks to the financial institution associated with doing business with a certain organization or person. These consist of: ... Read More
How is AI bias contained in Identity Verification Solutions?
In the context of digital onboarding, demographic features such as ethnicity, age, gender, socioeconomic circumstances, and even camera/device quality might affect the software’s capacity to match one face to a database of faces i.e. AI Bias. The quality and resilience of the underlying database in various sorts of surveillance might ... Read More
How Identity Verification Technology can help replace passwords
Passwords are difficult to remember and have ever-more-complex criteria set by individual platforms. They are also the main culprits for data leaks. 85% of data breaches are caused by human mistakes, and credential compromise is a key contributing element, according to the 2021 Verizon Data Breach Investigations Report. With AI ... Read More
Digital Identity trends: 3 Important questions you must be asking in 2023
The constantly envisioned digital world is now here; The age of digital change for companies of all sizes and industries worldwide was sparked by the pandemic. This digital sprint has given rise to spontaneous inadequate structures for digital identity management and digital onboarding while also creating various issues to be ... Read More
5 ways to Prevent Fraud against CNP Transactions
What is CNP, and how does it work? Digitalization has catapulted customer purchasing transactions to an unprecedented level. Online transaction payment methods have become so convenient that they have led to an unstoppable buying spree by consumers. These days there is nothing that can stop a desirous buyer from purchasing, ... Read More
