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Bank Account Verification is a process which ensures that funds are coming from and going to legitimate bank accounts. Generally, this process confirms the validity of a bank account, and it also has several benefits for companies. In this article, we’ll look into bank account verification and discuss the potential benefits of using it for
Veriff today announced our New Account Onboarding which establishes better trust online between a business and its consumers. This process starts with a built-in know your customer (KYC) feature, which is helping to meet stringent regulatory requirements online. Using artificial intelligence to gather data on the backend, this provides additional security measures for identity to be truly verified to enable
Every 39 seconds, there is a new attack somewhere on the web. This figure has only gotten worse since the pandemic began, as the FBI reported a 300% increase in cybercrimes – such as cyber-attacks and data breaches – since pre-COVID-19. Due to this increase in breaches, the need for a larger cybersecurity workforce has gained priority. With a
Large and organised criminal enterprises, or individuals who are massively involved in financial crime, face a major problem – they end up with huge amounts of cash, which they need to hide in order to avoid investigations by legal authorities. To deal with this problem, they create ways to conceal money obtained from illegal activities
Veriff is thrilled to now offer proof of address capture as part of our verification process, or separately, offering you the option to ask your customer or client to capture an image or upload a utility bill/bank statement (PDF) proving their address. We know that not every company needs this for KYC purposes but it’s incredibly
If your business works with money, in any way, then our new product is here to help you stay safe. Today Veriff is launching our new Anti-Money Laundering (AML), Politically Exposed Person (PEP) and Sanctions Product, providing our clients with an extended suite of tools to help them comply with anti-money laundering regulations. Identity verification, Politically
When you’re on the hunt for a verification provider, you’ll get the opportunity to test out a few of the ones you like. You’ll put them through their paces, and see how they shape up against your expectations. But this makes it sound like a remarkably easy process – and it isn’t always the case.
While identity fraud is something we take very seriously here at Veriff, the forgery of ID documents does sometimes result in some hilarious situations – especially when these are played out in movies. Characters like Charlie Bartlett – who does it to try and get people to ‘take notice of [him]’ and ‘be liked’ –
A Digital Bank is an organisation that can offer banking activities and online services, usually via a mobile app, which was historically only available at a bank branch. According to the FFIEC (Federal Financial Institutions Examination Council), e-banking is the “automated delivery of new and traditional banking products and services directly to customers through electronic,
As we stated back in a Veriff blog in August, deepfakes are one of the biggest fraud trends out there at the moment. Worryingly, this questionable practice isn’t just being used for facial recognition fraud but is seeping into many other facets of life as well. So, what really is a deepfake? The term refers to
