Identity verification for crypto exchanges, digital wallets and ICOs
Onboard users safely, mitigate AML and
With large amounts of crypto being traded daily, the space is under a growing risk for money laundering and identity fraud. According to a recent research in just 2021, over 4.25 billion USD was lost to crypto crime. Without proper security measures in place, crypto companies are under a risk for fraudulent activity and identity theft.
Furthermore, the Fifth and Sixth Money Laundering Directives mandated virtual currency and custodian wallet providers to be registered with their domestic authorities and meet the same KYC requirements as financial institutions. Exchanges and wallets must demonstrate that they have appropriate KYC and AML compliance programs in place.
How can Facephi help?
Facephi’s secure biometric-based digital onboarding and identity verification solutions help crypto companies to prevent identity theft and money laundering without compromising on user experience.