Blog

All Blog Identity Verification KYB/AML Regulations by Country Use Cases

Access the latest news and summarized takeaways regarding FinCEN’s Beneficial Ownership (BOI) Reporting rule: which entities need to comply and what exact steps reporting companies need to take right now.

Learn why you need to know if a business is in good standing, what happens in the case of non-compliance, and why certain risk factors, like onboarding a Politically Exposed Person (PEP), come with certain risks that can potentially harm your company.

The recent boom in the cryptocurrency market has raised the need for a solid regulatory framework to guarantee users’ transparency, safety, and protection; the European Union has adopted the Markets in Crypto-Assets Regulation (MiCA) to offer a meaningful legal framework for crypto-assets issued within its borders. Among the essential elements introduced by MiCA is a strict Know Your Customer (KYC) policy and procedures to reduce the risk of money laundering, fraud, and other illicit activities.

Access the latest insights on responsible gaming practices, how they look on different gaming and gambling sites, why some platforms ask their users to provide IDs, and how to strengthen age verification measures to stay compliant with stricter regulatory rules.

Explore the main risk factors, the complexity behind implementing a risk-based approach, and how to identify high-risk factors quickly. We provide a step-by-step explanation of how to set up an effective KYC risk assessment flow using automation.

Look through the recent amendments in the EU regulatory landscape, including important factors like systemized sanctions, tougher punishments, stricter rules on corporate compliance, and all things linked to money laundering controls and the 6th Anti-Money Laundering Directive, or 6AMLD.

Look through the main proof of income practices, document types, industries that use such documents for verification, and how this process works in the context of compliance and fraud prevention.

We discuss the main differences between a sole proprietorship and an LLC and explain how they need to be onboarded from the compliance side of things for financial institutions that deal with such structures during KYB verification.

Follow this concise step-by-step explanation guide on adopting a practical AML compliance program for credit unions and what compliance-related challenges these institutions face when conducting internal risk assessments.

Explore the key RegTech measures FriendFinder Networks used to onboard their employees and verify end-users on its suite of dating, streaming and other websites, including adult-only platforms that required a robust age verification solution.

Learn what bank account verification is, what kind of measures or steps it takes to build a proper onboarding process, and why confirming a user’s bank account to check if it’s valid is vital for many companies, and not only banks and similar financial institutions.

Money laundering is complex, especially when criminals manipulate tax authorities and law enforcement by turning dirty cash into legitimate income and mixing illicit funds with legitimate wealth. We break down the main laundering techniques and how they fit into the three stages of money laundering.