The legal sector has always been fraught with AML challenges, but in recent years the stakes have been raised by surging risks, increasingly complex regulatory requirements, and stronger supervision. Balancing commercial success while navigating costly AML regulations through CDD is a difficulty keenly felt by law firms. Failure to comply with AML laws On the…
Biometric data is the answer to identity theft. For this reason, organisations need to ensure high levels of security while handling it “Nearly 42 million people were victims of identity fraud in 2021, costing consumers $52 billion in losses, according to a new report co-sponsored by AARP.” What solutions are available to counter identity…
Happy International Identity Day everyone! It started as an initiative It started as an initiative from ID4Africa in 2018, an NGO that accompanies African nations on their journeys to develop robust and responsible identity ecosystems in the service of development and humanitarian action. According to the World Bank Group’s 2018 ID4D Global Dataset, 1 billion people…
Worldwide, 1.4 billion people are unbanked. Without a bank account, these people often find it difficult or even impossible to send money, make online transactions — or access financial services in many other ways the rest of us take for granted. This limits their earning potential and makes it hard from them to fully participate in…
For millions of people, the best form of ID is a digital ID. Digital ID is a verified and secure form of ID — installed on or accessed from a computer or mobile device which a person can use to prove that they are who they say they are. Consumers can use digital IDs to…
