BASIS ID

You must be aware about the fact that today, humans in a situation of immense crisis. where people are being cheated by hackers who try to steal all the important data, including sensitive personal information from even the most secured sources. These kinds of threat, especially if it includes valuable personal information can be disastrous for both individuals and organizations. Therefore, to sort out these problems, market leaders and trailblazing enterprises are designing and developing  ID verification software . This not just helps in weeding out harmful profiles like scammers, terrorists, money launderers etc. And along with safeguarding your business, identity verification will also help you fulfil the related regulatory compliance norms. If you haven’t heard about this amazing company called BASIS ID, then you should go and check out their website and the software solutions offered by them. The company was established in 2017, and they are the leaders in offering identity v

Several financial institutions and regulated businesses face a risk of huge losses and fines due to violations of anti-money laundering (AML) laws. Because of the false identification of customers, money laundering schemes become more complex. The cases of fall out due to AML compliance have been increasing as businesses are expanding globally with increased risk of the breach. Therefore, to avoid such violations, all institutions must carry out customer identification while onboarding. When financial institutions follow a strict  AML compliance program , they can avoid huge penalties, disciplinary fines, legal penalties, damage to the reputation, and other such grave consequences. Though several institutions are still neglecting compliance, some of them are putting immense efforts into streamlining their AML framework. The benefits are clear; with an increased probability of fraud detection and getting immediate alerts on suspicious behavior, institutions can stay safe and functio

Do you work in the financial sector? Are you looking for a better way to deal with the problems that this sector regularly faces? Well, then you are in the right place because in this post we are going to talk about how  online identity verification  solutions can help you stay safe. Indeed, financial institutions are one of the fastest-growing sectors in the world but there is this one thing that has become a matter of concern for several financial institutes and i.e. the increased financial crime rate. Talking about financial crime, money laundering is one of the major threats and the sad thing is that this criminal activity has increased tremendously in the past few years. Besides money laundering, there are many other types of crimes that take place in the financial world. That’s why it has become very important for the financial institutes to use KYC/AML verification software so that they can protect themselves from increased criminal activities. But the question is how are yo