KYC

Know Your Customer, alternatively known as know your client or simply KYC, is the process of a business verifying the identity of its clients and assessing their suitability, along with the potential risks of illegal intentions towards the business relationship.

(source: en.wikipedia.org)

Deep Dive: Why AML/KYC Regulations Left Cryptocurrency Exchanges With A Difficult Choice
Deep Dive: Why AML/KYC Regulations Left Cryptocurrency Exchanges With A Difficult Choice
February 19, 2021  |  AML

Decentralized finance (DeFi) is currently one of the most dynamic trends in the financial space, with more than 5,000 different cryptocurrencies in circulation as of...

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How Bitstamp Balances AML Efforts With Crypto Traders’ Privacy Concerns
How Bitstamp Balances AML Efforts With Crypto Traders’ Privacy Concerns
February 18, 2021  |  AML

The need to stay compliant while respecting user privacy concerns has forced cryptocurrency exchanges to rethink their approach to KYC. In this month’s AML/KYC Tracker,...

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Report: Crypto Exchanges Thread The Needle Between Compliance And Privacy
Report: Crypto Exchanges Thread The Needle Between Compliance And Privacy
February 17, 2021  |  AML

More than $300 billion in illicit funds are laundered each year in the United States, with criminals processing their profits to conceal their source and...

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Hide And Seek: Geolocation Helps Uncover Fraudsters’ Identities
Hide And Seek: Geolocation Helps Uncover Fraudsters’ Identities
February 11, 2021  |  Security & Fraud

Fraudsters follow the money. Take, for example, the Super Bowl. About half of all Americans were expected to place some kind of wager on the...

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Shifting Crypto Regulations Spotlight Need For ID Verification
Shifting Crypto Regulations Spotlight Need For ID Verification
February 04, 2021  |  AML

In a bid to bring better transparency to corporate actions — and reduce fraud — in the digital age, the regulatory landscape is shifting. For...

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How Mexico’s Central Bank Plans To Move Payments To Digital
How Mexico’s Central Bank Plans To Move Payments To Digital
January 06, 2021  |  Banking

In Mexico, the pandemic is moving the needle toward digital payments — specifically mobile payments — to become more widely embraced by businesses and consumers...

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Tracking The Trends That Shaped 2020’s The Digital-First Economy
Tracking The Trends That Shaped 2020’s The Digital-First Economy
January 01, 2021  |  Data

This year, the PYMNTS data and analytics team published 252 reports that tracked the data, innovations and disruptive thinking that are reshaping the payments and...

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Geolocation Puts A Pin In Anti-Fraud Solutions
Geolocation Puts A Pin In Anti-Fraud Solutions
December 29, 2020  |  Security & Fraud

With digital transactions and eCommerce soaring during the pandemic, the rate of increasingly sophisticated fraud has also risen. With it, financial institutions need to strengthen...

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Jumio: New Account Fraud Based On ID Verification Dropped 23.2 Percent
Jumio: New Account Fraud Based On ID Verification Dropped 23.2 Percent
December 15, 2020  |  Digital Identity

New Jumio data indicates that new account fraud based on identity verification fell 23.2 percent globally in 2020 in contrast to 2019, according to an...

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