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Navigating the financial regulatory landscape in the Asia-Pacific (APAC) region is increasingly complex making APAC compliance a growing priority for financial institutions operating across multiple jurisdictions. In New Zealand, a multi-regulator model splits compliance responsibilities: the Financial Markets Authority (FMA) oversees market conduct, the Department of Internal Affairs (DIA) supervises AML/CFT for payment and digital
Fintech companies are rewriting the rules of finance. From neobanks to crypto exchanges, the sector is defined by speed, innovation, and seamless user experiences. But as digital finance grows, so does the risk of financial crime. This creates a critical balancing act: how do you stop bad actors without slowing down good customers through kyc
Anti-money laundering and the financing of terrorism have long posed major threats to the global financial system. Even within the European Union (EU), often regarded as having one of the most stringent legal regimes for anti-money laundering (AML) and terrorist financing prevention, Europol estimates that around 1% of the EU’s annual GDP is tied to
Introduction In today’s financial landscape, protecting institutions against fraud and ensuring compliance is more important than ever. KYC verification—short for Know Your Customer verification—is not just a regulatory requirement. It’s also a vital process for assessing customer risk, protecting against money laundering, and safeguarding trust in the financial system. In 2024, the global cost of
Why innovation is the answer to KYC in gaming Customer verification is an ongoing challenge for gaming companies – charged as they are delivering super smooth digital player interactions while also complying with strict know your customer (KYC) and global AML regulations. Across jurisdictions, gaming platforms must: It’s a delicate balancing act: if the player onboarding process is
Introduction Do you remember the last time you went physically to the bank to send money somewhere? While many ‘yes’ answers may be expected, it is undeniable that nowadays opening your bank account online and sending money on its way can be done in a matter of minutes – and all from the comfort of
Operators in the online gaming industry must comply with ever-changing regulatory requirements. But they must also be able to onboard customers quickly – while providing a safe, secure environment for players. Meanwhile, know your customer (KYC) regulations are also incredibly important in gaming and cannot be overlooked. Not only do they protect the company from bad actors,
Cryptocurrencies are disrupting the world of finance. However, because cryptocurrencies are cryptographically secured on their blockchains, transactions between users are generally anonymous and take place in an instant. Due to this, crypto transactions provide opportunities for criminals who are looking to evade conventional AML/CFT controls. Global regulators are now paying greater attention than ever to
Veriff’s online identity verification solution provides a thorough biometric identity verification process on your behalf. We are the knowledge-holders for everything related to the personal documents required for verification and, by leaving identity verification to us, you can focus on doing what you do best. We know that anti-money laundering (AML) and know-your-customer (KYC) requirements
In many markets across the world, customer Know Your Customer (KYC) requirements are placed on gaming firms to verify the identity of their customers. This process helps guarantee customer safety and prevent criminal activities such as money laundering and terrorist financing. A standard KYC program involves collecting customer identification information such as full name, address,
