Article Archives

KYC and AML: Understanding the Crucial Differences

March 17, 2023

KYC and AML are by far the most frequently used terms when discussing compliance. Even though this is the case, many individuals still get the definitions mixed up. What exactly do KYC and AML mean, and how do they differ from one another? What is Know Your Customer (KYC)? The Know Your Consumer (KYC) procedure entails gathering data on the…

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The significance of robust identity verification today

March 17, 2023

In the context of the recent news about Facebook's Meta Verified subscription service, the need for robust identity verification becomes even more apparent. Meta CEO Mark Zuckerberg announced the launch of Meta Verified. This service is designed to provide users with an enhanced level of account verification. It also adds extra protection from impersonation accounts, and access to direct customer…

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As the world transitions to online banking, banks and their customers have prioritized digital security. In the past, SMS passwords appeared to be adequate. Cybercriminals, on the other hand, are now employing more sophisticated methods, such as spoofing. As a result, banks must now implement additional security measures. Passwords and pin codes are easy targets for today’s hackers, but facial biometric…

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