We are sorry but this service is not available in your location.
The Financial Action Task Force (“FATF”), the global money laundering and terrorist financing watchdog, has completed a 12 month review of the implementation of its revised standards regarding Virtual Assets and Virtual Asset Service Providers (“VASPs”). The FATF has highlighted that further guidance is needed on Virtual Assets and VASPs. The FATF carried out a 12-month
For several years, almost all U.S. financial institutions have been subject to strict AML compliance requirements. Failure to follow these requirements can have severe consequences – including loss of an institution’s ability to conduct business. However, some financial institutions have not been subject to these requirements. Now with new FinCEN regulations in place, the situation is changing.
We take a look at what KYC is, the different types that are needed, and why it might be helpful to turn to an external provider for assistance. What is KYC and why is it needed? KYC stands for ‘Know Your Customer’. Financial institutions are legally obliged to comply with KYC procedures to identify customers,
These days our online lives are wholly interwoven with our ‘normal’ lives and one is hard to distinguish from the other. The digitalization of the world over the past two decades has been both fascinating and slightly breathtaking at the same time. What was once ‘e-commerce’ is now simply referred to as ‘shopping’, while ‘online-banking’
Despite the global crisis caused by COVID-19, the company has witnessed increased customer engagement and taken advantage of accelerated digitalization around the world. Last year, our verification volumes grew by 35 times, and we’ve kept up with the growth trajectory this year. However, we are also targeting profitability. Veriff, a leader in the field
If you’ve ever sat down to watch a Hollywood movie, and it’s dealt with the travails of US teenagers or tales of global espionage, you might have seen a character produce a fake ID. These are either used for comedic effect or in a moment of tension where a character needs access to a vital room/floor/building,
That’s right, we’re talking about the final hours before the dreaded Y2K bug took effect and changed the course of the future forever. Okay, maybe this future didn’t come to be, but at the time it’s what it seemed like everyone was expecting. Instead of technological downfall, the Earth simply completed its revolution and we officially entered
AML regulations, more specifically KYC processes, have also been affected by this new reality. This article covers key aspects of how this pandemic will impact the future of the financial industry – what are the Covid-19 compliance challenges, possible outcomes and how Veriff could help to tackle the issues. FATF encourages digitalization This pandemic has,
We’re thrilled to share a little more about a brand new product, improvements across the board, and a new addition to our SDKs. Assisted Image Capture In March we announced the launch of our latest product – Assisted Image Capture. We have a full explanation of what it is and what it does in an earlier
The sudden and sizable need for reliable tools to support remote work at an enormous scale has global tech usage surging. Fintech app usage has surged over 70% in Europe alone. Video conferencing leader Zoom has seen traffic quadruple and Cisco WebEx hosted over 70 million meetings last month. Microsoft reports over a 775% increase in monthly users for its Teams communication software –
Login
Help Center
How to get verified