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

Verifying the legal status of a company, identifying its beneficial owners, and monitoring risks to ensure ongoing compliance are all important stages of Know Your Business verification. But this process remains a mystery to some organizations, often resulting in many challenges.

Especially in business, signing a contract without doing detailed research can result in becoming a money laundering channel. That’s why in today’s complex digital environment, it’s essential to take your time to research every single company that you’re interested in doing business with. 

Wondering what is a machine-readable zone (MRZ)? Do you want to know its role in identity verification? If the answer to these questions is “yes.” Read this blog until the end.

Access our expert insights regarding KYC verification, with step-by-step examples for different industries, including other AML processes that are mandatory after the initial user onboarding stage.

Discover how Rebell Pay, a cross-border P2P payment provider, optimized its compliance processes with iDenfy, integrating ID verification and AML screening to cut costs using automation.

Back in the day, almost everybody was involved in money laundering – drug cartels, banks, politicians, and whatnot. Let’s see how these schemes were uncovered and exposed, as well as the impact and prevention of one of the world’s biggest financial crimes.

Find out the main factors that make or break an EIN verification process while we provide concrete database examples and spill our industry insights on other mandatory business verification steps in KYB compliance.

Learn about the NIS2 directive and how to effectively utilize the KYC and identity verification service for domain name service providers based by the rules outlined in Article 28.

Look through the most commonly used Social Security Number (SSN) verification methods while finding out if it’s a good idea to use a person’s SSN as the only piece of identifying data in your company’s ID verification process.

Find out what SOC 2 and ISO 27001 are, how they compare, and what factors should shape your decision when choosing the best option for your company based on criteria like geographic relevance and more.

Review the most common wire transfer fraud and scam cases, find out how they negatively impact companies and their security system, and what kind of red flags users need to be aware of before giving out their money to unknown individuals on the internet.

Money Laundering Reporting Officers (MLROs) help their companies prevent fraudulent activities, but it is not easy — they face complex challenges. Learn about the daily tasks of an MLRO, their work requirements, and the importance of AML tools.