Explore Diverse Uses for Biometrics Beyond Security
The trend of biometrics has stepped into almost every business sector such as banking, finance, government authentication, law enforcement, the education industry, and other areas. Biometrics has become hugely popular...
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Revolutionising Insurance with Biometric and AI-based KYC
With the increased evolution in the compliance environment, companies are rapidly seeking quicker, more...
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ACH Transfer VS Wire Transfer: A Compliance Guide
When it comes to electronic money transfers, ACH Transfer and Wire Transfer are two...
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KYC in Insurance: Compliance Standards and Policyholder Protective Measures
According to a 2022 investigation by LexisNexis Risk Solutions, financial organisations encounter an average...
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Bank Secrecy Act in AML: 5 Pillars of BSA AML Compliance
Federal law enforcement governs and regulates the banking industry as per money laundering regulations....
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A Risk-Based Approach to KYC and Risk Management: Safeguarding Banks from Fraud
Do you know who your customers are and what are their backgrounds? Well, it...
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Currency Transaction Report supplementing the KYC and AML: A Bank’s Perspective
Structuring is breaking the transactions into smaller amounts for forging or evading the Currency...
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Streamline Compliance: How KYC Automation Can Lower Costs?
In the banking industry, the KYC automation process has enhanced and organised its productivity...
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Politically Exposed Person: How PEPs use banking for Money Laundering?
People with different social classes are potentially involved in Money Laundering. Somehow, they manage...
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Overcoming Obstacles in Cross Border Transactions via KYC
Over the last few decades, technology has brought drastic changes in financial industries and...
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Key Factors to Consider when Developing an eKYC Solution
Millions are spent annually on Know Your Customer (KYC) and anti-money laundering (AML) procedures as businesses strive to confirm identities and fight money laundering.
What is Money Laundering? Understanding the Process
Money laundering is the act of processing illicit money , which is generated by any illegal or criminal activity i.e (drugs trafficking, terrorist funds, embezzlement,
Financial institutions are under the lens of regulators
Financial institutions are under the lens of regulators, and that scrutiny looks like it will only continue to grow. In fact, financial institutions that lack compliance