Industry-leading identity verification now available for KYC checks

Industry-leading identity verification now available for KYC checks

We are delighted to announce the launch of our new KYC check service! Following an increasing number of requests, we’ve added PEPs & Sanctions and address verification checks to our identity verification services to provide an all-in-one service to support your AML compliance. Here’s a quick summary of our new KYC service: What is included? Identity document verification The first step in our basic KYC check service is the validation of a government-issued identity document. We believe that this is the most critical step in any KYC check process – find out more about why here. With our online validation…read more >
Putting identity document checks at the heart of your KYC checks

Putting identity document checks at the heart of your KYC checks

Know Your Customer checks are mandatory for regulated business to identify their customers and gather knowledge of their background as part of Anti-Money Laundering compliance. The most important first step in this process is the verification of a government issued identity document. In this blog, we give you 3 reasons why robust identity document checks should form the backbone of your AML processesread more >
Identity document verification systems – 5 reasons why they’re best for finding fake identity documents

Identity document verification systems – 5 reasons why they’re best for finding fake identity documents

The scale of identity fraud is shocking. In 2019, CIFAS, the National Fraud Prevention service reported that identity fraud had reached a record level in the UK. Our experience shows us that criminal networks are becoming increasingly sophisticated and even security experts can’t simply rely on traditional visual methods of detection, such as magnifying glasses and ultraviolet light sources. Since most public and private institutions don’t employ a resident Identity Fraud Expert, the best way to confidently stay one step ahead of fraudsters is to have access to the most up-to-the-minute technology and data at your fingertips. This role is now filled by identity document validation…read more >
Identity fraud in SMEs: take early action to protect your business

Identity fraud in SMEs: take early action to protect your business

Data from Action Fraud shows that British businesses reported £88m of insider deception in 2017/18 – double the previous year – with the average loss rising to £62,000. Whilst financial fraud is a risk to every business of any size, SMEs certainly shouldn’t believe it won’t happen to them just because they are employing fewer staff or working within a smaller network.  Identity fraud amongst employees presents a very real risk to SMEs. In fact, according to ActionFraud, 1 in 5 small businesses have been defrauded by an employee. Fraudsters can think of small businesses as easy pickings because, in…read more >
Validating identity documents is step one in a secure process

Validating identity documents is step one in a secure process

There are many reasons that businesses today need to confirm the identity of the people they employ or work with. This guest blog is from Darren Harding who is the on-boarding manager at our customer Boomerang Funding. They check ID documents as part of a Right to Work check and to ensure that only legitimate applicants are given access to rail infrastructure projects through the Sentinel Card scheme... “In our experience, most people that we deal with are genuine, but fraudsters are clever and can easily gain access to large amounts of data to help make what they are claiming…read more >
Smarter identity checks to satisfy ‘Know Your Customer’ (KYC) requirements

Smarter identity checks to satisfy ‘Know Your Customer’ (KYC) requirements

Let’s say you work in a 'B2C' finance environment, such as a Pawnbroker, and a smart young man walks into your premises, wanting to do business with you. You’ve never met him before but he’s presentable, professional and seems like a nice chap. Don’t be fooled! It’s critical to satisfy yourself that he is who he says he is. Do you have a simple way to do that? And how can you reduce the risk of doing business with a fraudster? As you probably know, anti-money laundering (AML) regulations state that your first step should be to perform an appropriate…read more >
ID scanning system thwarts fraud attempt

ID scanning system thwarts fraud attempt

Fluent Money, the UK’s largest secured loan distributor, recently thwarted an attempt by a fraudster to obtain a loan using a fake driving licence thanks to electronic ID verification. In this blog, we talk to Tim Wheeldon, COO, and Stuart Almond, Group Compliance Director at Fluent Money about why they introduced ID scanning technology and how it works in their business. Can you tell us more about Fluent Money? Tim Wheeldon (TW): “Fluent Money is the UK’s largest secured loan distributor working through intermediaries and selected partnerships. We were one of the first businesses in our sector to be fully…read more >